XPeng (NYSE:XPEV) Stock Price Down 5.8%

XPeng Inc. (NYSE:XPEV) shares were down 5.8% during mid-day trading on Monday . The stock traded as low as $7.45 and last traded at $7.46. Approximately 2,406,599 shares changed hands during trading, a decline of 82% from the average daily volume of 13,509,182 shares. The stock had previously closed at $7.92.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on XPEV shares. Daiwa Capital Markets raised shares of XPeng from a “neutral” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Thursday, May 23rd. Daiwa America raised shares of XPeng to a “strong-buy” rating in a report on Thursday, May 23rd. Citigroup raised shares of XPeng from a “sell” rating to a “neutral” rating and raised their price target for the stock from $7.70 to $8.30 in a research note on Tuesday, June 25th. Finally, Macquarie assumed coverage on shares of XPeng in a research note on Monday, April 15th. They issued a “neutral” rating and a $7.00 price target on the stock. One equities research analyst has 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.28.

XPeng Trading Up 6.7 %

The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of -5.42 and a beta of 2.76. The company’s 50-day moving average is $8.05 and its 200-day moving average is $8.97. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.18.

XPeng (NYSE:XPEV) last announced its quarterly 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 company had revenue of $906.90 million for the quarter. Research analysts anticipate that XPeng Inc. will post -0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On XPeng

A number of institutional investors have recently made changes to their positions in XPEV. Norges Bank acquired a new stake in shares of XPeng during the fourth quarter valued at about $41,993,000. RWC Asset Advisors US LLC grew its holdings in shares of XPeng by 170.3% in the fourth 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 in the last quarter. Electron Capital Partners LLC acquired a new position in shares of XPeng in the fourth quarter valued at approximately $26,047,000. Russell Investments Group Ltd. grew its holdings in shares of XPeng by 9,123.0% in the fourth quarter. Russell Investments Group Ltd. now owns 815,131 shares of the company’s stock valued at $11,893,000 after purchasing an additional 806,293 shares in the last quarter. Finally, RWC Asset Management LLP grew its holdings in shares of XPeng by 167.9% in the fourth quarter. RWC Asset Management LLP now owns 1,221,899 shares of the company’s stock valued at $17,828,000 after purchasing an additional 765,824 shares in the last quarter. 23.05% of the stock is currently owned by institutional investors and hedge funds.

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.