XPeng (NYSE:XPEV) Shares Down 2.5%

XPeng Inc. (NYSE:XPEV)’s stock price dropped 2.5% during trading on Wednesday . The company traded as low as $8.81 and last traded at $8.82. Approximately 1,763,473 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 12,850,265 shares. The stock had previously closed at $9.05.

Wall Street Analyst Weigh In

A number of research firms recently commented on XPEV. Daiwa Capital Markets raised shares of XPeng from a “neutral” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Thursday, May 23rd. JPMorgan Chase & Co. raised shares of XPeng from a “neutral” rating to an “overweight” rating and increased their target price for the company from $8.00 to $11.50 in a research report on Thursday, September 5th. Daiwa America raised shares of XPeng to a “strong-buy” rating in a research report on Thursday, May 23rd. Macquarie raised shares of XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Finally, Bank of America dropped their target price on shares of XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $12.08.

XPeng Stock Performance

The company has a current ratio of 1.50, a quick ratio of 1.31 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $8.25 billion, a price-to-earnings ratio of -6.12 and a beta of 2.75. The stock’s 50 day moving average price is $7.94 and its two-hundred day moving average price is $8.09.

XPeng (NYSE:XPEV) last posted its quarterly earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share for the quarter. XPeng had a negative return on equity of 23.38% and a negative net margin of 21.64%. The company had revenue of $1.12 billion for the quarter. On average, analysts forecast that XPeng Inc. will post -0.95 EPS for the current year.

Institutional Investors Weigh In On XPeng

Large investors have recently added to or reduced their stakes in the business. Natixis acquired a new stake in XPeng in the 1st quarter valued at about $38,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in XPeng by 122.4% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock valued at $39,000 after acquiring an additional 2,920 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in XPeng in the 4th quarter valued at about $52,000. Blue Trust Inc. grew its stake in XPeng by 2,615.9% in the 2nd quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock valued at $75,000 after acquiring an additional 9,391 shares during the last quarter. Finally, 180 Wealth Advisors LLC acquired a new stake in XPeng in the 2nd quarter valued at about $78,000. 23.05% of the stock is owned by institutional investors and hedge funds.

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.