XPENG (NYSE:XPEV) Shares Gap Down – What’s Next?

XPENG Inc. Sponsored ADR (NYSE:XPEV)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $17.87, but opened at $17.31. XPENG shares last traded at $17.4950, with a volume of 1,328,195 shares changing hands.

Analyst Upgrades and Downgrades

XPEV has been the topic of several research reports. Macquarie Infrastructure set a $26.00 price objective on XPENG and gave the stock an “outperform” rating in a report on Thursday, January 15th. Barclays dropped their target price on XPENG from $17.00 to $16.00 and set an “underweight” rating for the company in a research report on Tuesday, March 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of XPENG in a research note on Wednesday, January 21st. Citigroup reiterated a “buy” rating on shares of XPENG in a report on Friday, February 6th. Finally, Morgan Stanley reissued a “reduce” rating on shares of XPENG in a report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, XPENG presently has a consensus rating of “Hold” and a consensus price target of $24.74.

XPENG Stock Up 3.4%

The business’s fifty day simple moving average is $17.92 and its 200 day simple moving average is $19.99. The stock has a market cap of $17.32 billion, a price-to-earnings ratio of -107.36 and a beta of 1.18. The company has a current ratio of 1.09, a quick ratio of 0.91 and a debt-to-equity ratio of 0.24.

XPENG (NYSE:XPEV) last posted its quarterly earnings results on Sunday, February 15th. The company reported $0.04 earnings per share (EPS) for the quarter. XPENG had a negative return on equity of 3.69% and a negative net margin of 1.46%.The business had revenue of $3.18 billion for the quarter. Equities analysts forecast that XPENG Inc. Sponsored ADR will post -0.96 earnings per share for the current fiscal year.

Institutional Trading of XPENG

A number of hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC boosted its stake in XPENG by 161.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,562 shares of the company’s stock worth $52,000 after acquiring an additional 1,582 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in XPENG by 16.9% in the third quarter. EverSource Wealth Advisors LLC now owns 2,694 shares of the company’s stock worth $63,000 after purchasing an additional 389 shares during the period. Kickstand Ventures LLC. bought a new position in shares of XPENG during the fourth quarter worth $202,000. Parallel Advisors LLC boosted its position in shares of XPENG by 6.0% during the fourth quarter. Parallel Advisors LLC now owns 10,293 shares of the company’s stock worth $209,000 after purchasing an additional 584 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of XPENG in the 3rd quarter valued at $249,000. 21.09% of the stock is currently owned by institutional investors and hedge funds.

XPENG Company Profile

XPENG Inc (NYSE: XPEV) is a China-based developer and manufacturer of smart electric vehicles. The company designs, engineers and sells battery-electric sedans and sport-utility vehicles along with related software and services. Founded in 2014, XPENG positions itself as a technology-driven automaker with a focus on vehicle connectivity, software-defined features and advanced driver assistance systems.

Product offerings center on passenger EVs spanning compact crossovers and midsize sedans, supported by in-house software platforms and over-the-air update capabilities.