XPeng (NYSE:XPEV) Stock Price Down 4.5% – Here’s What Happened

XPeng Inc. (NYSE:XPEV)’s stock price traded down 4.5% during mid-day trading on Thursday . The stock traded as low as $12.75 and last traded at $12.75. 1,790,544 shares changed hands during trading, a decline of 87% from the average session volume of 13,625,882 shares. The stock had previously closed at $13.35.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of XPeng from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $8.00 to $11.50 in a report on Thursday, September 5th. Macquarie raised shares of XPeng from a “neutral” rating to an “outperform” rating in a research note on Friday, August 30th. Citigroup reduced their price objective on shares of XPeng from $8.30 to $7.60 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st. Finally, Bank of America reduced their price objective on shares of XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $9.42.

XPeng Stock Up 0.8 %

The stock has a fifty day simple moving average of $11.44 and a two-hundred day simple moving average of $9.15. The company has a quick ratio of 1.31, a current ratio of 1.50 and a debt-to-equity ratio of 0.18.

XPeng (NYSE:XPEV) last issued its earnings results on Tuesday, August 20th. The company reported ($0.19) EPS for the quarter. XPeng had a negative net margin of 21.64% and a negative return on equity of 23.38%. The firm had revenue of $1.12 billion during the quarter. On average, research analysts anticipate that XPeng Inc. will post -1 earnings per share for the current year.

Hedge Funds Weigh In On XPeng

A number of institutional investors have recently modified their holdings of XPEV. Bank of Montreal Can increased its stake in XPeng by 212.1% during the 2nd quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock valued at $31,910,000 after purchasing an additional 2,724,549 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of XPeng in the 3rd quarter worth about $22,047,000. Primecap Management Co. CA lifted its position in XPeng by 5.6% in the 2nd quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock valued at $120,369,000 after acquiring an additional 872,160 shares in the last quarter. Point72 Europe London LLP acquired a new position in XPeng during the 2nd quarter valued at about $5,923,000. Finally, Russell Investments Group Ltd. increased its holdings in XPeng by 73.7% during the 1st quarter. Russell Investments Group Ltd. now owns 1,415,568 shares of the company’s stock worth $10,872,000 after purchasing an additional 600,437 shares in the last quarter. 23.05% of the stock is owned by institutional investors and hedge funds.

XPeng Company Profile

XPeng Inc designs, develops, manufactures, and markets smart electric vehicles (EVs) in the People's Republic of China. It offers SUVs under the G3, G3i, and G9 names; four-door sports sedans under the P7 and P7i names; and family sedans under the P5 name. The company also provides sales contracts, super charging, maintenance, technical support, auto financing, insurance, technology support, ride-hailing, automotive loan referral, and other services, as well as vehicle leasing and insurance agency services.