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

XPeng Inc. (NYSE:XPEV)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $26.34, but opened at $24.94. XPeng shares last traded at $25.51, with a volume of 5,531,509 shares changing hands.

Analysts Set New Price Targets

XPEV has been the topic of a number of research analyst reports. Sanford C. Bernstein raised their price target on XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. UBS Group raised shares of XPeng from a “sell” rating to a “neutral” rating and upped their price target for the stock from $8.80 to $18.00 in a research report on Monday, February 24th. Citigroup raised shares of XPeng from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $13.70 to $29.00 in a research note on Monday. The Goldman Sachs Group downgraded XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target for the company. in a research report on Thursday, November 21st. Finally, Macquarie restated a “neutral” rating and issued a $18.00 price objective on shares of XPeng in a report on Friday, February 7th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $15.63.

XPeng Trading Down 4.2 %

The firm has a market capitalization of $23.76 billion, a PE ratio of -29.01 and a beta of 2.68. The firm has a fifty day moving average of $16.45 and a 200 day moving average of $13.21. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Venturi Wealth Management LLC purchased a new stake in shares of XPeng during the third quarter worth about $110,000. Central Asset Investments & Management Holdings HK Ltd boosted its stake in shares of XPeng by 36.0% during the 3rd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 408,000 shares of the company’s stock valued at $4,969,000 after buying an additional 108,000 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in XPeng by 48.9% in the third quarter. Advisors Asset Management Inc. now owns 49,624 shares of the company’s stock valued at $604,000 after acquiring an additional 16,289 shares in the last quarter. Citigroup Inc. boosted its stake in XPeng by 14.2% during the 3rd quarter. Citigroup Inc. now owns 293,321 shares of the company’s stock valued at $3,573,000 after acquiring an additional 36,560 shares during the last quarter. Finally, FMR LLC grew its holdings in XPeng by 1,053.8% during the 3rd quarter. FMR LLC now owns 323,581 shares of the company’s stock worth $3,941,000 after acquiring an additional 295,536 shares in the last quarter. 21.09% of the stock is owned by institutional investors and hedge funds.

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.