XPeng (NYSE:XPEV) Trading Down 7% – What’s Next?

XPeng Inc. (NYSE:XPEV)’s share price traded down 7% during mid-day trading on Friday . The company traded as low as $23.42 and last traded at $23.57. 7,612,412 shares changed hands during trading, a decline of 43% from the average session volume of 13,277,888 shares. The stock had previously closed at $25.35.

Analyst Ratings Changes

XPEV has been the topic of several recent analyst reports. Citigroup raised shares of XPeng from a “neutral” rating to a “buy” rating and raised their target price for the company from $13.70 to $29.00 in a report on Monday. Macquarie restated a “neutral” rating and set a $18.00 target price on shares of XPeng in a research note on Friday, February 7th. Sanford C. Bernstein lifted their price target on XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. China Renaissance raised XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective on the stock in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group downgraded XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price for the company. in a research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, XPeng presently has an average rating of “Moderate Buy” and a consensus price target of $15.63.

XPeng Stock Performance

The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. The company’s 50-day simple moving average is $16.98 and its 200-day simple moving average is $13.38. The stock has a market capitalization of $22.26 billion, a price-to-earnings ratio of -27.18 and a beta of 2.68.

Institutional Investors Weigh In On XPeng

A number of institutional investors have recently modified their holdings of the company. Alibaba Group Holding Ltd boosted its stake in shares of XPeng by 21.2% in the 4th quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company’s stock valued at $448,678,000 after purchasing an additional 6,650,000 shares during the last quarter. TMT General Partner Ltd bought a new stake in shares of XPeng in the 4th quarter valued at $205,501,000. JPMorgan Chase & Co. grew its holdings in XPeng by 1,138.1% in the fourth quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company’s stock worth $54,354,000 after purchasing an additional 4,227,055 shares during the period. Point72 Hong Kong Ltd acquired a new stake in XPeng in the third quarter worth $22,047,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in XPeng by 947.5% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,759,750 shares of the company’s stock valued at $20,800,000 after purchasing an additional 1,591,750 shares in the last quarter. 21.09% of the stock is owned by institutional investors.

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.