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

XPeng Inc. (NYSE:XPEV)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $24.56, but opened at $23.34. XPeng shares last traded at $22.79, with a volume of 8,025,117 shares.

Analyst Ratings Changes

Several analysts have weighed in on the company. Macquarie reaffirmed a “neutral” rating and issued a $18.00 price target on shares of XPeng in a report on Friday, February 7th. China Renaissance upgraded shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective on the stock in a research report on Friday, November 22nd. The Goldman Sachs Group cut XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price on the stock. in a research note on Thursday, November 21st. Citigroup upgraded XPeng from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $13.70 to $29.00 in a report on Monday, March 10th. Finally, UBS Group raised XPeng from a “sell” rating to a “neutral” rating and raised their price objective for the company from $8.80 to $18.00 in a report on Monday, February 24th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, XPeng presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.63.

XPeng Stock Down 7.1 %

The firm has a market capitalization of $21.49 billion, a PE ratio of -26.15 and a beta of 2.68. 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 stock has a 50 day simple moving average of $17.48 and a 200 day simple moving average of $13.69.

XPeng (NYSE:XPEV) last issued its earnings results on Tuesday, March 18th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($1.36) by $1.17. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.92%. As a group, sell-side analysts forecast that XPeng Inc. will post -0.96 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. TMT General Partner Ltd bought a new stake in shares of XPeng in the 4th quarter worth approximately $205,501,000. Alibaba Group Holding Ltd lifted its stake in XPeng by 21.2% in the fourth quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company’s stock worth $448,678,000 after acquiring an additional 6,650,000 shares during the period. JPMorgan Chase & Co. boosted 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 valued at $54,354,000 after acquiring an additional 4,227,055 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in XPeng during the 3rd quarter valued at $22,047,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in XPeng by 947.5% in the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,759,750 shares of the company’s stock worth $20,800,000 after purchasing an additional 1,591,750 shares in the last quarter. Hedge funds and other 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.