XPeng (NYSE:XPEV) Shares Gap Down – What’s Next?

XPeng Inc. (NYSE:XPEV)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $22.26, but opened at $20.59. XPeng shares last traded at $20.77, with a volume of 3,637,120 shares.

Wall Street Analysts Forecast Growth

XPEV has been the topic of a number of analyst reports. Citigroup reduced their price target on XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. The Goldman Sachs Group downgraded XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target on the stock. in a research report on Thursday, November 21st. UBS Group raised XPeng from a “sell” rating to a “neutral” rating and raised their target price for the company from $8.80 to $18.00 in a report on Monday, February 24th. China Renaissance raised XPeng from a “hold” rating to a “buy” rating and set a $16.70 target price on the stock in a report on Friday, November 22nd. Finally, Sanford C. Bernstein raised their target price on XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $13.93.

XPeng Stock Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37. The company has a market cap of $20.26 billion, a price-to-earnings ratio of -24.72 and a beta of 2.77. The company has a fifty day moving average of $15.07 and a two-hundred day moving average of $12.41.

Institutional Investors Weigh In On XPeng

Several hedge funds have recently modified their holdings of XPEV. TMT General Partner Ltd acquired a new stake in shares of XPeng during the 4th quarter valued at $205,501,000. Alibaba Group Holding Ltd boosted its holdings in shares of XPeng by 21.2% during the 4th quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company’s stock valued at $448,678,000 after acquiring an additional 6,650,000 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of XPeng by 1,138.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company’s stock valued at $54,354,000 after acquiring an additional 4,227,055 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of XPeng during the 3rd quarter valued at $22,047,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of XPeng by 947.5% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,759,750 shares of the company’s stock valued at $20,800,000 after acquiring an additional 1,591,750 shares in the last quarter. Institutional investors and hedge funds own 21.09% of the company’s stock.

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.