XPeng (NYSE:XPEV) Shares Down 7% – Time to Sell?

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on XPEV shares. Citigroup upgraded XPeng from a “neutral” rating to a “buy” rating and upped their target price for the stock from $13.70 to $29.00 in a research report on Monday, March 10th. UBS Group upgraded XPeng from a “sell” rating to a “neutral” rating and increased their price objective for the company from $8.80 to $18.00 in a research report on Monday, February 24th. The Goldman Sachs Group downgraded XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price objective for the company. in a research report on Thursday, November 21st. Sanford C. Bernstein increased their price objective on XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. Finally, China Renaissance upgraded XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective for the company in a research report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, XPeng has an average rating of “Moderate Buy” and a consensus price target of $15.63.

XPeng Stock Performance

The firm’s 50 day simple moving average is $17.22 and its 200-day simple moving average is $13.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37. The company has a market capitalization of $22.34 billion, a price-to-earnings ratio of -27.26 and a beta of 2.68.

Institutional Trading of XPeng

Several large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in shares of XPeng by 55.8% in the fourth 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 last quarter. Avior Wealth Management LLC increased its stake in shares of XPeng by 1,215.2% in the fourth quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock worth $33,000 after acquiring an additional 2,564 shares during the last quarter. Lindbrook Capital LLC increased its stake in shares of XPeng by 50.7% in the fourth quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock worth $40,000 after acquiring an additional 1,138 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of XPeng in the fourth quarter worth $41,000. Finally, Natixis bought a new stake in shares of XPeng during the 4th quarter worth about $43,000. 21.09% of the stock is owned by institutional investors and hedge funds.

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.