XPeng (NYSE:XPEV) Trading Down 5.8% on Analyst Downgrade

XPeng Inc. (NYSE:XPEV) shares traded down 5.8% during trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $35.00 to $31.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. XPeng traded as low as $22.22 and last traded at $22.43. 3,189,841 shares changed hands during trading, a decline of 76% from the average session volume of 13,290,787 shares. The stock had previously closed at $23.80.

Other equities research analysts also recently issued research reports about the stock. China Renaissance upgraded shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 target price on the stock in a research note on Friday, November 22nd. Citigroup raised shares of XPeng from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $13.70 to $29.00 in a research note on Monday, March 10th. Bank of America lifted their target price on shares of XPeng from $18.60 to $27.00 and gave the company a “buy” rating in a research note on Wednesday. Sanford C. Bernstein increased their price target on XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. Finally, UBS Group upgraded XPeng from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $8.80 to $18.00 in a research report on Monday, February 24th. Five analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.02.

Institutional Investors Weigh In On XPeng

A number of institutional investors and hedge funds have recently made changes to their positions in XPEV. EverSource Wealth Advisors LLC boosted its holdings in XPeng by 55.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock valued at $30,000 after acquiring an additional 898 shares during the last quarter. Avior Wealth Management LLC boosted its stake in shares of XPeng by 1,215.2% in the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock valued at $33,000 after purchasing an additional 2,564 shares during the last quarter. Lindbrook Capital LLC grew its position in shares of XPeng by 50.7% during the 4th quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock worth $40,000 after buying an additional 1,138 shares during the period. Golden State Wealth Management LLC acquired a new position in XPeng in the fourth quarter valued at approximately $41,000. Finally, Natixis bought a new position in XPeng in the fourth quarter valued at approximately $43,000. Institutional investors own 21.09% of the company’s stock.

XPeng Stock Down 7.0 %

The business’s fifty day simple moving average is $17.90 and its 200 day simple moving average is $13.86. The stock has a market cap of $20.84 billion, a price-to-earnings ratio of -25.30 and a beta of 2.68. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22.

XPeng (NYSE:XPEV) last posted its 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 company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $16.11 billion. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. Equities analysts forecast that XPeng Inc. will post -0.96 earnings per share for the current fiscal year.

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.