XPeng (NYSE:XPEV) Trading Down 2.2%

XPeng Inc. (NYSE:XPEV) dropped 2.2% during mid-day trading on Friday . The company traded as low as $7.48 and last traded at $7.52. Approximately 790,094 shares traded hands during trading, a decline of 94% from the average daily volume of 13,433,795 shares. The stock had previously closed at $7.69.

Analyst Upgrades and Downgrades

XPEV has been the subject of a number of analyst reports. Macquarie started coverage on XPeng in a report on Monday, April 15th. They set a “neutral” rating and a $7.00 price objective for the company. Citigroup upgraded shares of XPeng from a “sell” rating to a “neutral” rating and upped their price target for the stock from $7.70 to $8.30 in a research report on Tuesday. Daiwa Capital Markets upgraded shares of XPeng from a “neutral” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Thursday, May 23rd. Finally, Daiwa America upgraded shares of XPeng to a “strong-buy” rating in a research report on Thursday, May 23rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.28.

XPeng Trading Down 5.5 %

The firm has a market capitalization of $6.85 billion, a P/E ratio of -4.91 and a beta of 2.80. The business has a 50 day moving average of $8.00 and a 200-day moving average of $9.44. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.18.

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

Institutional Investors Weigh In On XPeng

Several hedge funds have recently added to or reduced their stakes in the business. Primecap Management Co. CA lifted its holdings in XPeng by 5.3% during the 4th quarter. Primecap Management Co. CA now owns 12,497,823 shares of the company’s stock valued at $182,343,000 after purchasing an additional 624,926 shares during the last quarter. RWC Asset Advisors US LLC lifted its holdings in XPeng by 170.3% during the 4th quarter. RWC Asset Advisors US LLC now owns 4,434,392 shares of the company’s stock valued at $64,698,000 after purchasing an additional 2,793,550 shares during the last quarter. Norges Bank acquired a new stake in XPeng during the 4th quarter valued at $41,993,000. Robeco Schweiz AG lifted its holdings in XPeng by 3.8% during the 4th quarter. Robeco Schweiz AG now owns 2,336,330 shares of the company’s stock valued at $34,087,000 after purchasing an additional 85,000 shares during the last quarter. Finally, Electron Capital Partners LLC bought a new position in XPeng during the 4th quarter worth $26,047,000. Institutional investors and hedge funds own 23.05% of the company’s stock.

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.