XPeng (NYSE:XPEV) Trading Down 6.8%

Shares of XPeng Inc. (NYSE:XPEV) traded down 6.8% on Thursday . The stock traded as low as $8.52 and last traded at $8.52. 2,089,202 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 12,924,422 shares. The stock had previously closed at $9.14.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Daiwa America upgraded XPeng to a “strong-buy” rating in a research note on Thursday, May 23rd. Citigroup decreased their price target on XPeng from $8.30 to $7.60 and set a “neutral” rating for the company in a research note on Wednesday, August 21st. Daiwa Capital Markets upgraded XPeng from a “neutral” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Thursday, May 23rd. JPMorgan Chase & Co. upgraded XPeng from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $8.00 to $11.50 in a research note on Thursday, September 5th. Finally, Bank of America decreased their price target on XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. One equities 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. Based on data from MarketBeat, XPeng currently has a consensus rating of “Buy” and an average target price of $12.08.

XPeng Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.31. The business has a 50-day simple moving average of $7.88 and a 200 day simple moving average of $8.11.

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

Hedge Funds Weigh In On XPeng

A number of hedge funds have recently made changes to their positions in XPEV. Natixis bought a new position in XPeng during the first quarter valued at approximately $38,000. Harel Insurance Investments & Financial Services Ltd. raised its position in XPeng by 122.4% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock valued at $39,000 after purchasing an additional 2,920 shares during the period. Scarborough Advisors LLC purchased a new stake in XPeng during the fourth quarter valued at approximately $52,000. Blue Trust Inc. raised its position in XPeng by 2,615.9% during the second quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock valued at $75,000 after purchasing an additional 9,391 shares during the period. Finally, 180 Wealth Advisors LLC purchased a new stake in XPeng during the second quarter valued at approximately $78,000. Institutional investors own 23.05% of the company’s stock.

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.