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

XPeng Inc. (NYSE:XPEV) gapped down before the market opened on Friday . The stock had previously closed at $13.26, but opened at $12.82. XPeng shares last traded at $12.71, with a volume of 2,462,136 shares.

Analysts Set New Price Targets

A number of brokerages have weighed in on XPEV. China Renaissance upgraded XPeng from a “hold” rating to a “buy” rating and set a $16.70 target price for the company in a report on Friday, November 22nd. Sanford C. Bernstein lifted their price objective on shares of XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. UBS Group reissued a “sell” rating and set a $8.80 target price (up from $8.20) on shares of XPeng in a research note on Thursday, December 5th. JPMorgan Chase & Co. raised shares of XPeng from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $8.00 to $11.50 in a research note on Thursday, September 5th. Finally, The Goldman Sachs Group cut shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price objective on the stock. in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.69.

XPeng Stock Down 4.8 %

The company has a market cap of $11.90 billion, a price-to-earnings ratio of -14.52 and a beta of 2.76. 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 stock’s fifty day moving average is $12.47 and its two-hundred day moving average is $10.06.

Institutional Investors Weigh In On XPeng

Several institutional investors have recently bought and sold shares of XPEV. Y Intercept Hong Kong Ltd purchased a new position in XPeng during the third quarter worth about $6,233,000. FMR LLC boosted its stake in shares of XPeng by 1,053.8% in the 3rd quarter. FMR LLC now owns 323,581 shares of the company’s stock worth $3,941,000 after buying an additional 295,536 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of XPeng in the second quarter valued at approximately $1,006,000. Point72 Hong Kong Ltd purchased a new stake in shares of XPeng during the third quarter valued at approximately $22,047,000. Finally, Central Asset Investments & Management Holdings HK Ltd lifted its holdings in XPeng by 36.0% during the third quarter. Central Asset Investments & Management Holdings HK Ltd now owns 408,000 shares of the company’s stock worth $4,969,000 after acquiring an additional 108,000 shares during the period. Institutional investors own 21.09% 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.