XPeng (NYSE:XPEV) Shares Gap Down – Here’s What Happened

XPeng Inc. (NYSE:XPEV) shares gapped down before the market opened on Tuesday . The stock had previously closed at $24.56, but opened at $23.34. XPeng shares last traded at $22.79, with a volume of 8,025,117 shares.

Analyst Ratings Changes

A number of analysts have commented on the company. Sanford C. Bernstein boosted their price objective on XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. Macquarie reaffirmed a “neutral” rating and set a $18.00 price objective on shares of XPeng in a report on Friday, February 7th. UBS Group upgraded shares of XPeng from a “sell” rating to a “neutral” rating and increased their target price for the company from $8.80 to $18.00 in a report on Monday, February 24th. Citigroup upgraded shares of XPeng from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $13.70 to $29.00 in a report on Monday, March 10th. Finally, China Renaissance raised shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 target price on the stock in a research report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, XPeng presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.63.

XPeng Stock Down 7.1 %

The firm has a market capitalization of $21.49 billion, a PE ratio of -26.15 and a beta of 2.68. The stock has a 50-day simple moving average of $17.48 and a 200-day simple moving average of $13.69. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22.

XPeng (NYSE:XPEV) last announced its quarterly earnings data on Tuesday, March 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.36) by $1.17. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. Analysts forecast that XPeng Inc. will post -0.96 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its holdings in XPeng by 55.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock worth $30,000 after purchasing an additional 898 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in shares of XPeng by 1,215.2% in the fourth quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock worth $33,000 after buying an additional 2,564 shares in the last quarter. Lindbrook Capital LLC grew its stake in XPeng by 50.7% during the fourth quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock valued at $40,000 after acquiring an additional 1,138 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in XPeng during the 4th quarter worth approximately $41,000. Finally, Natixis purchased a new stake in XPeng in the 4th quarter worth approximately $43,000. 21.09% of the stock is currently owned by hedge funds and other institutional investors.

About XPeng

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.