XPeng (NYSE:XPEV) Shares Gap Down – Time to Sell?

XPeng Inc. (NYSE:XPEV)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $15.30, but opened at $14.45. XPeng shares last traded at $14.31, with a volume of 3,617,592 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Citigroup decreased their target price on XPeng from $8.30 to $7.60 and set a “neutral” rating on the stock in a research note on Wednesday, August 21st. JPMorgan Chase & Co. upgraded shares of XPeng from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $8.00 to $11.50 in a research report on Thursday, September 5th. Bank of America dropped their target price on shares of XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Finally, Macquarie upgraded shares of XPeng from a “neutral” rating to an “outperform” rating in a report on Friday, August 30th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $9.42.

XPeng Stock Down 2.2 %

The business has a 50-day moving average price of $11.28 and a 200 day moving average price of $9.10. The stock has a market capitalization of $12.60 billion, a P/E ratio of -10.96 and a beta of 2.80. The company has a current ratio of 1.50, a quick ratio of 1.31 and a debt-to-equity ratio of 0.18.

XPeng (NYSE:XPEV) last released its quarterly earnings data on Tuesday, August 20th. The company reported ($0.19) EPS for the quarter. The business had revenue of $1.12 billion for the quarter. XPeng had a negative net margin of 21.64% and a negative return on equity of 23.38%. On average, equities analysts expect that XPeng Inc. will post -1 EPS for the current fiscal year.

Hedge Funds Weigh In On XPeng

A number of institutional investors and hedge funds have recently modified their holdings of XPEV. Sei Investments Co. lifted its position in XPeng by 83.0% in the first quarter. Sei Investments Co. now owns 129,400 shares of the company’s stock worth $994,000 after buying an additional 58,700 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of XPeng by 73.7% in the 1st quarter. Russell Investments Group Ltd. now owns 1,415,568 shares of the company’s stock worth $10,872,000 after acquiring an additional 600,437 shares during the last quarter. Seven Eight Capital LP boosted its stake in shares of XPeng by 2,254.4% during the 1st quarter. Seven Eight Capital LP now owns 284,155 shares of the company’s stock worth $2,182,000 after purchasing an additional 272,086 shares during the period. Natixis bought a new position in XPeng during the 1st quarter valued at about $38,000. Finally, Alpine Global Management LLC purchased a new stake in XPeng in the 1st quarter worth about $307,000. Hedge funds and other 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.