XPeng (NYSE:XPEV) Shares Gap Down – Here’s What Happened

XPeng Inc. (NYSE:XPEV)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $16.65, but opened at $15.58. XPeng shares last traded at $15.72, with a volume of 2,416,824 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on XPEV. Sanford C. Bernstein lifted their target price on XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. UBS Group restated a “sell” rating and set a $8.80 price target (up previously from $8.20) on shares of XPeng in a research note on Thursday, December 5th. Citigroup reduced their price objective on XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a research note on Wednesday, November 20th. Macquarie reaffirmed a “neutral” rating and set a $18.00 price target on shares of XPeng in a research report on Friday. Finally, China Renaissance raised shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective on the stock in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.91.

XPeng Stock Down 6.7 %

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 firm has a fifty day simple moving average of $13.54 and a 200-day simple moving average of $11.38. The company has a market capitalization of $14.64 billion, a PE ratio of -17.82 and a beta of 2.77.

Institutional Trading of XPeng

Institutional investors and hedge funds have recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd bought a new position in shares of XPeng during the 3rd quarter worth about $6,233,000. FMR LLC increased its position in XPeng by 1,053.8% in the third quarter. FMR LLC now owns 323,581 shares of the company’s stock worth $3,941,000 after purchasing an additional 295,536 shares during the period. TMT General Partner Ltd acquired a new position in XPeng in the fourth quarter valued at approximately $205,501,000. Point72 Hong Kong Ltd bought a new position in shares of XPeng in the 3rd quarter worth $22,047,000. Finally, Central Asset Investments & Management Holdings HK Ltd boosted 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 buying an additional 108,000 shares during the last quarter. Institutional investors and hedge funds 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.