XPeng (NYSE:XPEV) Shares Gap Down – Time to Sell?

XPeng Inc. (NYSE:XPEV)’s stock 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 trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on XPEV. Daiwa America downgraded shares of XPeng from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 19th. JPMorgan Chase & Co. decreased their price target on shares of XPeng from $35.00 to $31.00 and set an “overweight” rating for the company in a report on Wednesday, March 19th. Barclays lifted their price objective on XPeng from $7.00 to $20.00 and gave the stock an “underweight” rating in a research note on Thursday, March 20th. Bank of America boosted their price objective on XPeng from $18.60 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, March 19th. Finally, Citigroup raised 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 report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, XPeng currently has an average rating of “Hold” and a consensus price target of $22.20.

XPeng Stock Down 5.8 %

The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. The business’s fifty day moving average price is $20.14 and its 200 day moving average price is $15.37. The company has a market capitalization of $17.59 billion, a P/E ratio of -21.46 and a beta of 2.62.

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

Institutional Trading of XPeng

Several institutional investors have recently bought and sold shares of the stock. Alibaba Group Holding Ltd lifted its holdings in shares of XPeng by 21.2% during the fourth quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company’s stock valued at $448,678,000 after acquiring an additional 6,650,000 shares during the period. TMT General Partner Ltd lifted its holdings in XPeng by 88.2% during the 1st quarter. TMT General Partner Ltd now owns 32,726,800 shares of the company’s stock valued at $678,099,000 after purchasing an additional 15,340,907 shares during the last quarter. JPMorgan Chase & Co. boosted its position in XPeng by 1,138.1% in the fourth quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company’s stock valued at $54,354,000 after buying an additional 4,227,055 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in XPeng by 947.5% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,759,750 shares of the company’s stock valued at $20,800,000 after buying an additional 1,591,750 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in XPeng by 51.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,073,367 shares of the company’s stock worth $12,687,000 after buying an additional 366,667 shares during the last quarter. Institutional investors and hedge funds own 21.09% of the company’s stock.

About XPeng

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.