XPeng (NYSE:XPEV) Shares Gap Down to $9.40

XPeng Inc. (NYSE:XPEV) shares gapped down before the market opened on Friday . The stock had previously closed at $9.40, but opened at $9.12. XPeng shares last traded at $9.06, with a volume of 5,154,057 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on XPeng from $19.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, February 23rd. Macquarie started coverage on XPeng in a research report on Monday, April 15th. They issued a “neutral” rating and a $7.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, XPeng presently has a consensus rating of “Hold” and an average price target of $17.48.

XPeng Stock Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.36 and a current ratio of 1.51. The firm’s 50-day moving average price is $8.44 and its two-hundred day moving average price is $11.61. The stock has a market cap of $8.53 billion, a price-to-earnings ratio of -5.40 and a beta of 2.84.

XPeng (NYSE:XPEV) last posted its earnings results on Tuesday, March 19th. The company reported ($0.21) earnings per share for the quarter. The firm had revenue of $1.84 billion during the quarter. XPeng had a negative net margin of 33.77% and a negative return on equity of 31.17%. On average, analysts expect that XPeng Inc. will post -1.25 EPS for the current fiscal year.

Institutional Trading of XPeng

Institutional investors and hedge funds have recently bought and sold shares of the stock. Primecap Management Co. CA raised its stake in shares of XPeng by 5.3% in the 4th quarter. Primecap Management Co. CA now owns 12,497,823 shares of the company’s stock valued at $182,343,000 after acquiring an additional 624,926 shares during the period. FMR LLC raised its position in XPeng by 8,035.6% in the third quarter. FMR LLC now owns 5,311,499 shares of the company’s stock valued at $97,519,000 after purchasing an additional 5,246,212 shares during the period. RWC Asset Advisors US LLC lifted its stake in XPeng by 170.3% during the fourth quarter. RWC Asset Advisors US LLC now owns 4,434,392 shares of the company’s stock worth $64,698,000 after purchasing an additional 2,793,550 shares in the last quarter. Norges Bank purchased a new position in shares of XPeng during the fourth quarter worth $41,993,000. Finally, UBS Group AG grew its stake in shares of XPeng by 1,500.6% in the third quarter. UBS Group AG now owns 2,442,935 shares of the company’s stock valued at $44,852,000 after buying an additional 2,290,309 shares in the last quarter. 23.05% of the stock is currently owned by hedge funds and other institutional investors.

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.