XPeng (NYSE:XPEV) Shares Gap Down to $24.47

XPeng Inc. (NYSE:XPEVGet Rating)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $24.47, but opened at $23.55. XPeng shares last traded at $23.73, with a volume of 84,616 shares traded.

Analyst Ratings Changes

Several research analysts recently issued reports on XPEV shares. Citigroup increased their price target on shares of XPeng from $36.70 to $51.59 and gave the stock a “buy” rating in a research note on Tuesday, June 21st. Bank of America decreased their price target on shares of XPeng from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, May 24th. Nomura downgraded shares of XPeng from a “buy” rating to a “neutral” rating and cut their price objective for the company from $64.60 to $36.30 in a research report on Thursday, June 30th. Macquarie downgraded shares of XPeng from an “outperform” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a research report on Wednesday. Finally, Barclays cut their price objective on shares of XPeng from $39.00 to $30.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 24th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.57.

XPeng Stock Performance

The business’s fifty day moving average price is $27.51 and its 200-day moving average price is $29.05. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.11 and a current ratio of 2.29. The stock has a market cap of $19.67 billion, a PE ratio of -21.29 and a beta of 3.11.

XPeng (NYSE:XPEVGet Rating) last announced its quarterly earnings results on Monday, May 23rd. The company reported ($0.32) earnings per share (EPS) for the quarter. The company had revenue of $1.18 billion for the quarter. XPeng had a negative net margin of 22.63% and a negative return on equity of 14.59%. As a group, equities research analysts forecast that XPeng Inc. will post -3.72 EPS for the current fiscal year.

Institutional Trading of XPeng

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of XPeng by 3.2% during the 1st quarter. BlackRock Inc. now owns 20,215,942 shares of the company’s stock valued at $557,756,000 after acquiring an additional 619,993 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of XPeng by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 17,912,069 shares of the company’s stock worth $494,193,000 after purchasing an additional 471,143 shares during the period. Tiger Global Management LLC lifted its stake in shares of XPeng by 120.3% in the 1st quarter. Tiger Global Management LLC now owns 13,724,477 shares of the company’s stock worth $378,658,000 after purchasing an additional 7,495,477 shares during the period. Aspex Management HK Ltd lifted its stake in shares of XPeng by 9.1% in the 1st quarter. Aspex Management HK Ltd now owns 9,582,275 shares of the company’s stock worth $264,375,000 after purchasing an additional 800,000 shares during the period. Finally, Primecap Management Co. CA lifted its stake in shares of XPeng by 27.1% in the 1st quarter. Primecap Management Co. CA now owns 8,601,777 shares of the company’s stock worth $237,323,000 after purchasing an additional 1,834,290 shares during the period. Hedge funds and other institutional investors own 27.01% of the company’s stock.

About XPeng

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XPeng Inc designs, develops, manufactures, and markets smart electric vehicles in the People's Republic of China. It offers SUVs under the G3 and G3i names; four-door sports sedans under the P7 name; and family sedans under the P5 name. The company also provides sales contracts, maintenance, super charging, vehicle leasing, insurance agency, ride-hailing, technical support, automotive loan referral and auto financing, music subscription, and other services.

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