XPeng (NYSE:XPEV) Shares Gap Down to $7.17

XPeng Inc. (NYSE:XPEV) shares gapped down before the market opened on Friday . The stock had previously closed at $7.17, but opened at $6.99. XPeng shares last traded at $7.01, with a volume of 1,249,438 shares changing hands.

Analysts Set New Price Targets

Several brokerages have issued reports on XPEV. JPMorgan Chase & Co. lowered their price target on XPeng from $19.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, February 23rd. Macquarie started coverage on XPeng in a research report on Monday. They set a “neutral” rating and a $7.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, XPeng presently has a consensus rating of “Hold” and a consensus target price of $17.48.

XPeng Trading Down 1.8 %

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.51 and a quick ratio of 1.36. The company’s 50-day moving average is $8.70 and its two-hundred day moving average is $12.31.

XPeng (NYSE:XPEV) last announced its quarterly earnings results on Tuesday, March 19th. The company reported ($0.21) EPS for the quarter. The business had revenue of $1.84 billion during the quarter. XPeng had a negative return on equity of 31.17% and a negative net margin of 33.77%. As a group, sell-side analysts predict that XPeng Inc. will post -1.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of XPEV. Carolinas Wealth Consulting LLC increased its position in shares of XPeng by 12.5% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 4,500 shares of the company’s stock valued at $124,000 after purchasing an additional 500 shares during the last quarter. Rhumbline Advisers increased its position in XPeng by 8.6% during the 3rd quarter. Rhumbline Advisers now owns 9,005 shares of the company’s stock valued at $165,000 after buying an additional 710 shares in the last quarter. PNC Financial Services Group Inc. increased its position in XPeng by 7.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 11,066 shares of the company’s stock valued at $203,000 after buying an additional 732 shares in the last quarter. US Bancorp DE increased its position in XPeng by 13.9% during the 1st quarter. US Bancorp DE now owns 6,271 shares of the company’s stock valued at $173,000 after buying an additional 767 shares in the last quarter. Finally, Lindbrook Capital LLC increased its holdings in shares of XPeng by 33.0% in the third quarter. Lindbrook Capital LLC now owns 3,149 shares of the company’s stock valued at $58,000 after purchasing an additional 781 shares during the period. 23.05% of the stock is owned by hedge funds and other institutional investors.

About XPeng

XPeng Inc designs, develops, manufactures, and markets smart electric vehicles (EV) 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, maintenance, super charging, technical support, auto financing, insurance technology support, ride-hailing, automotive loan referral, and other services, as well as vehicle leasing and insurance agency services.