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

XPeng Inc. (NYSE:XPEV)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $11.82, but opened at $11.57. XPeng shares last traded at $11.46, with a volume of 5,009,034 shares.

Analyst Upgrades and Downgrades

A number of research analysts have commented on XPEV shares. UBS Group reaffirmed a “sell” rating and issued a $8.80 price objective (up from $8.20) on shares of XPeng in a report on Thursday, December 5th. Citigroup decreased their price target on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock 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 price objective for the company. in a research note on Thursday, November 21st. Sanford C. Bernstein increased their target price on shares of XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. Finally, China Renaissance upgraded shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price target for the company in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.69.

XPeng Price Performance

The firm has a market capitalization of $11.03 billion, a P/E ratio of -13.46 and a beta of 2.76. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average is $12.55 and its 200-day moving average is $10.19.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new stake in XPeng in the third quarter valued at approximately $45,000. Venturi Wealth Management LLC bought a new position in shares of XPeng in the 3rd quarter valued at $110,000. Susquehanna International Securities Ltd. acquired a new stake in shares of XPeng during the 2nd quarter valued at $129,000. Atomi Financial Group Inc. bought a new stake in XPeng during the 3rd quarter worth $129,000. Finally, Sequoia Financial Advisors LLC increased its holdings in XPeng by 24.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,359 shares of the company’s stock worth $163,000 after purchasing an additional 2,609 shares in the last quarter. Institutional investors 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.