XPeng (NYSE:XPEV) Shares Gap Down to $8.32

XPeng Inc. (NYSE:XPEV) gapped down prior to trading on Friday . The stock had previously closed at $8.32, but opened at $7.75. XPeng shares last traded at $7.66, with a volume of 846,243 shares changing hands.

Analyst Ratings Changes

A number of research analysts have recently weighed in on XPEV shares. Citigroup raised shares of XPeng from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $7.70 to $8.30 in a research note on Tuesday, June 25th. Macquarie started coverage on XPeng in a research report on Monday, April 15th. They issued a “neutral” rating and a $7.00 price objective on the stock. Daiwa America upgraded XPeng to a “strong-buy” rating in a research report on Thursday, May 23rd. Finally, Daiwa Capital Markets raised shares of XPeng from a “neutral” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, XPeng currently has an average rating of “Hold” and an average target price of $16.28.

XPeng Stock Performance

The stock’s 50-day moving average is $8.08 and its 200-day moving average is $9.18. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.18. The stock has a market cap of $7.11 billion, a price-to-earnings ratio of -5.18 and a beta of 2.76.

XPeng (NYSE:XPEV) last posted its earnings results on Tuesday, May 21st. The company reported ($0.20) earnings per share for the quarter. XPeng had a negative net margin of 28.16% and a negative return on equity of 28.16%. The business had revenue of $906.90 million for the quarter. On average, analysts expect that XPeng Inc. will post -0.96 EPS for the current year.

Hedge Funds Weigh In On XPeng

Several hedge funds and other institutional investors have recently bought and sold shares of XPEV. Compagnie Lombard Odier SCmA raised its stake in shares of XPeng by 322.2% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 1,900 shares of the company’s stock valued at $28,000 after purchasing an additional 1,450 shares during the period. Scarborough Advisors LLC acquired a new position in XPeng in the 4th quarter worth $52,000. Rakuten Securities Inc. purchased a new position in XPeng in the 4th quarter valued at about $59,000. Natixis acquired a new stake in shares of XPeng during the first quarter valued at about $38,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in shares of XPeng during the fourth quarter worth about $102,000. 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.