XPeng (NYSE:XPEV) Trading Down 6.7%

Shares of XPeng Inc. (NYSE:XPEV) fell 6.7% during mid-day trading on Tuesday . The stock traded as low as $6.65 and last traded at $6.72. 10,582,095 shares changed hands during trading, a decline of 18% from the average session volume of 12,902,747 shares. The stock had previously closed at $7.20.

Wall Street Analysts Forecast Growth

XPEV has been the topic of several recent research reports. Bank of America lowered their price objective on shares of XPeng from $12.70 to $11.70 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. Daiwa Capital Markets upgraded shares of XPeng from a “neutral” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Thursday, May 23rd. Citigroup upgraded XPeng from a “sell” rating to a “neutral” rating and increased their price objective for the company from $7.70 to $8.30 in a research report on Tuesday, June 25th. Finally, Daiwa America raised XPeng to a “strong-buy” rating in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, XPeng presently has an average rating of “Moderate Buy” and an average target price of $11.49.

XPeng Trading Down 6.0 %

The company has a market capitalization of $6.38 billion, a P/E ratio of -4.54 and a beta of 2.76. The company has a 50-day simple moving average of $7.75 and a 200 day simple moving average of $8.21. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.32 and a current ratio of 1.50.

XPeng (NYSE:XPEV) last posted its quarterly earnings results on Tuesday, May 21st. The company reported ($0.20) earnings per share (EPS) for the quarter. The company had revenue of $906.90 million during the quarter. XPeng had a negative return on equity of 28.16% and a negative net margin of 28.16%. Sell-side analysts expect that XPeng Inc. will post -0.91 earnings per share for the current year.

Institutional Investors Weigh In On XPeng

Institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in XPeng by 25.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,550 shares of the company’s stock worth $154,000 after purchasing an additional 2,151 shares during the period. Mizuho Securities Co. Ltd. bought a new position in shares of XPeng during the 4th quarter worth approximately $102,000. Russell Investments Group Ltd. lifted its position in shares of XPeng by 9,123.0% during the 4th quarter. Russell Investments Group Ltd. now owns 815,131 shares of the company’s stock worth $11,893,000 after buying an additional 806,293 shares during the period. RWC Asset Advisors US LLC boosted its stake in XPeng by 170.3% in the 4th quarter. RWC Asset Advisors US LLC now owns 4,434,392 shares of the company’s stock valued at $64,698,000 after buying an additional 2,793,550 shares in the last quarter. Finally, RWC Asset Management LLP grew its position in XPeng by 167.9% in the fourth quarter. RWC Asset Management LLP now owns 1,221,899 shares of the company’s stock valued at $17,828,000 after acquiring an additional 765,824 shares during the period. Institutional investors and hedge funds 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.