XPeng (NYSE:XPEV) Shares Gap Down – Here’s What Happened

XPeng Inc. (NYSE:XPEV) gapped down prior to trading on Monday . The stock had previously closed at $19.43, but opened at $17.11. XPeng shares last traded at $16.84, with a volume of 3,798,377 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on XPEV. Citigroup upgraded shares of XPeng from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $13.70 to $29.00 in a report on Monday, March 10th. Daiwa Capital Markets restated a “neutral” rating and set a $24.00 price objective on shares of XPeng in a research note on Wednesday, March 19th. Bank of America raised their target price on shares of XPeng from $18.60 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, March 19th. Nomura Securities raised XPeng to a “strong-buy” rating in a research report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. dropped their price objective on XPeng from $35.00 to $31.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, XPeng has an average rating of “Hold” and an average price target of $22.20.

XPeng Stock Performance

The company has a fifty day moving average of $19.66 and a two-hundred day moving average of $14.93. The firm has a market capitalization of $16.72 billion, a price-to-earnings ratio of -20.40 and a beta of 2.62. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37.

XPeng (NYSE:XPEV) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($1.36) by $1.17. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $16.11 billion. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. As a group, equities research analysts predict that XPeng Inc. will post -0.96 earnings per share for the current fiscal year.

Institutional Trading of XPeng

Institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its position in shares of XPeng by 5.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,044 shares of the company’s stock valued at $154,000 after buying an additional 716 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in XPeng by 55.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock worth $30,000 after acquiring an additional 898 shares during the period. Quadrant Capital Group LLC raised its holdings in XPeng by 3.9% in the 4th quarter. Quadrant Capital Group LLC now owns 24,192 shares of the company’s stock valued at $286,000 after acquiring an additional 913 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of XPeng by 7.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 14,386 shares of the company’s stock valued at $170,000 after acquiring an additional 1,027 shares during the period. Finally, Lindbrook Capital LLC grew its holdings in shares of XPeng by 50.7% during the 4th quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock worth $40,000 after purchasing an additional 1,138 shares in the last quarter. Institutional investors own 21.09% of the company’s stock.

XPeng Company Profile

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.