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

by · The Cerbat Gem

XPeng Inc. (NYSE:XPEV – Get Free Report)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $21.08, but opened at $20.29. XPeng shares last traded at $19.91, with a volume of 2,224,506 shares changing hands.

Analysts Set New Price Targets

XPEV has been the subject of several recent research reports. Nomura upgraded shares of XPeng from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $14.00 to $30.00 in a research note on Wednesday, March 19th. Barclays lifted their price objective on shares of XPeng from $7.00 to $20.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. lowered their target price on shares of XPeng from $35.00 to $31.00 and set an “overweight” rating on the stock in a report on Wednesday, March 19th. Nomura Securities raised XPeng to a “strong-buy” rating in a report on Tuesday, March 18th. Finally, Daiwa Capital Markets reiterated a “neutral” rating and issued a $24.00 price target on shares of XPeng in a research report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $22.20.

View Our Latest Analysis on XPeng

XPeng Stock Down 6.3 %

The company has a market cap of $18.60 billion, a P/E ratio of -22.76 and a beta of 2.62. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18. The company has a 50 day moving average of $20.05 and a 200-day moving average of $15.32.

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

Hedge Funds Weigh In On XPeng

Institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its holdings in shares of XPeng by 70.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,291 shares of the company’s stock worth $27,000 after purchasing an additional 532 shares in the last quarter. TMT General Partner Ltd grew its position in XPeng by 88.2% during the first quarter. TMT General Partner Ltd now owns 32,726,800 shares of the company’s stock valued at $678,099,000 after acquiring an additional 15,340,907 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of XPeng by 18.9% during the first quarter. Parallel Advisors LLC now owns 9,936 shares of the company’s stock worth $206,000 after acquiring an additional 1,576 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of XPeng in the 4th quarter worth approximately $70,000. Finally, Vise Technologies Inc. purchased a new stake in shares of XPeng in the 4th quarter valued at $142,000. Institutional investors own 21.09% of the company’s stock.

About XPeng

(Get Free Report)

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.

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