XPeng (NYSE:XPEV) Shares Gap Down - Here's Why

XPeng Inc. (NYSE:XPEV - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $12.66, but opened at $12.27. XPeng shares last traded at $12.49, with a volume of 1,128,275 shares changing hands.

Analyst Ratings Changes

XPEV has been the topic of several analyst reports. Macquarie upgraded XPeng from a "neutral" rating to an "outperform" rating in a research report on Friday, August 30th. JPMorgan Chase & Co. upgraded XPeng from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $8.00 to $11.50 in a research report on Thursday, September 5th. Bank of America lowered their target price on XPeng from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, August 21st. Finally, Citigroup lowered their price objective on XPeng from $8.30 to $7.60 and set a "neutral" rating on the stock in a research report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $9.42.

XPeng Stock Up 2.0 %

The company has a 50-day moving average price of $9.03 and a 200 day moving average price of $8.35. The firm has a market capitalization of $12.16 billion, a PE ratio of -10.50 and a beta of 2.79. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.31.

XPeng (NYSE:XPEV - Get Free Report) last issued its earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. XPeng had a negative return on equity of 23.38% and a negative net margin of 21.64%. The firm had revenue of $1.12 billion during the quarter. Analysts forecast that XPeng Inc. will post -0.95 earnings per share for the current year.

Institutional Investors Weigh In On XPeng

Large investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. increased its stake in XPeng by 122.4% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company's stock worth $39,000 after acquiring an additional 2,920 shares during the last quarter. Scarborough Advisors LLC bought a new stake in XPeng during the fourth quarter worth approximately $52,000. Signaturefd LLC increased its stake in XPeng by 19.4% during the second quarter. Signaturefd LLC now owns 24,647 shares of the company's stock worth $181,000 after acquiring an additional 4,002 shares during the last quarter. Natixis purchased a new position in shares of XPeng during the first quarter valued at approximately $38,000. Finally, Ballentine Partners LLC boosted its position in shares of XPeng by 47.0% during the first quarter. Ballentine Partners LLC now owns 19,933 shares of the company's stock valued at $153,000 after buying an additional 6,376 shares during the period. 23.05% of the stock is owned by institutional investors.

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.