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

XPeng Inc. (NYSE:XPEV) shares gapped down before the market opened 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.

Analysts Set New Price Targets

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

XPeng Price Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.32 and a current ratio of 1.50. The firm has a market cap of $7.11 billion, a P/E ratio of -5.18 and a beta of 2.76. The business has a 50-day simple moving average of $8.08 and a 200 day simple moving average of $9.18.

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

Institutional Trading of XPeng

A number of hedge funds have recently modified their holdings of XPEV. Russell Investments Group Ltd. boosted its stake in XPeng by 9,123.0% during the fourth quarter. Russell Investments Group Ltd. now owns 815,131 shares of the company’s stock worth $11,893,000 after acquiring an additional 806,293 shares in the last quarter. Norges Bank bought a new position in XPeng in the 4th quarter worth about $41,993,000. Ballentine Partners LLC grew its position in XPeng by 14.6% during the 4th quarter. Ballentine Partners LLC now owns 13,557 shares of the company’s stock valued at $198,000 after purchasing an additional 1,729 shares during the last quarter. Electron Capital Partners LLC bought a new stake in XPeng during the 4th quarter valued at about $26,047,000. Finally, Mariner LLC raised its holdings in XPeng by 37.5% in the third quarter. Mariner LLC now owns 25,141 shares of the company’s stock worth $462,000 after buying an additional 6,858 shares during the last quarter. Institutional investors 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.