XPeng (NYSE:XPEV) Shares Gap Down – Should You Sell?

XPeng Inc. (NYSE:XPEV) gapped down prior to trading on Tuesday . The stock had previously closed at $24.56, but opened at $23.34. XPeng shares last traded at $22.79, with a volume of 8,025,117 shares traded.

Analysts Set New Price Targets

XPEV has been the subject of a number of analyst reports. Nomura raised shares of XPeng from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $14.00 to $30.00 in a research note on Wednesday. Sanford C. Bernstein raised their target price 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. The Goldman Sachs Group cut shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price for the company. in a research note on Thursday, November 21st. Macquarie reaffirmed a “neutral” rating and set a $18.00 target price on shares of XPeng in a research note on Friday, February 7th. Finally, Citigroup raised shares of XPeng from a “neutral” rating to a “buy” rating and raised their target price for the company from $13.70 to $29.00 in a research note on Monday, March 10th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.02.

XPeng Stock Up 5.1 %

The firm has a market capitalization of $22.42 billion, a PE ratio of -27.35 and a beta of 2.68. The business’s 50 day simple moving average is $17.90 and its 200 day simple moving average is $13.86. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22.

XPeng (NYSE:XPEV) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($1.36) by $1.17. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.92%. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $16.11 billion. On average, equities research analysts forecast that XPeng Inc. will post -0.96 earnings per share for the current year.

Institutional Investors Weigh In On XPeng

Institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of XPeng by 55.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock worth $30,000 after acquiring an additional 898 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in shares of XPeng by 1,215.2% in the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock worth $33,000 after acquiring an additional 2,564 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in shares of XPeng by 50.7% in the 4th quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock worth $40,000 after acquiring an additional 1,138 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of XPeng in the 4th quarter worth about $41,000. Finally, Natixis bought a new stake in shares of XPeng in the 4th quarter worth about $43,000. Institutional investors own 21.09% 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.