XPeng (NYSE:XPEV) Shares Gap Down to $8.24

Shares of XPeng Inc. (NYSE:XPEV) gapped down before the market opened on Thursday . The stock had previously closed at $8.24, but opened at $7.86. XPeng shares last traded at $7.83, with a volume of 1,290,777 shares traded.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Daiwa America raised shares of XPeng to a “strong-buy” rating in a research note on Thursday, May 23rd. Citigroup raised shares of XPeng from a “sell” rating to a “neutral” rating and increased their target price for the stock from $7.70 to $8.30 in a research note on Tuesday. Macquarie assumed coverage on shares of XPeng in a research note on Monday, April 15th. They set a “neutral” rating and a $7.00 target price for the company. Finally, Daiwa Capital Markets raised shares of XPeng from a “neutral” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Thursday, May 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $16.28.

XPeng Stock Performance

The company’s fifty day moving average is $8.00 and its two-hundred day moving average is $9.38. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.18.

XPeng (NYSE:XPEV) last issued its earnings results on Tuesday, May 21st. The company reported ($0.20) earnings per share for the quarter. The firm had revenue of $906.90 million during the quarter. XPeng had a negative net margin of 28.16% and a negative return on equity of 28.16%. As a group, analysts predict that XPeng Inc. will post -0.96 earnings per share for the current fiscal year.

Institutional Trading of XPeng

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XPEV. Deutsche Bank AG acquired a new stake in XPeng during the third quarter worth approximately $835,000. PNC Financial Services Group Inc. raised its holdings in XPeng by 7.1% during the third quarter. PNC Financial Services Group Inc. now owns 11,066 shares of the company’s stock worth $203,000 after purchasing an additional 732 shares in the last quarter. Mariner LLC raised its holdings in XPeng by 37.5% during the third quarter. Mariner LLC now owns 25,141 shares of the company’s stock worth $462,000 after purchasing an additional 6,858 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in XPeng by 11.8% during the third quarter. Advisors Asset Management Inc. now owns 33,917 shares of the company’s stock worth $623,000 after purchasing an additional 3,579 shares in the last quarter. Finally, Toroso Investments LLC raised its holdings in XPeng by 6.1% during the third quarter. Toroso Investments LLC now owns 102,909 shares of the company’s stock worth $1,889,000 after purchasing an additional 5,900 shares in the last quarter. Institutional investors and hedge funds 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.