XPeng (NYSE:XPEV) Shares Gap Down - Should You Sell?

XPeng Inc. (NYSE:XPEV - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $11.05, but opened at $10.70. XPeng shares last traded at $10.56, with a volume of 1,933,041 shares traded.

Wall Street Analysts Forecast Growth

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

XPeng Stock Down 7.5 %

The company has a quick ratio of 1.31, a current ratio of 1.50 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $9.63 billion, a PE ratio of -8.57 and a beta of 2.79. The company's fifty day moving average price is $9.39 and its 200-day moving average price is $8.45.

XPeng (NYSE:XPEV - Get Free Report) last released its earnings results on Tuesday, August 20th. The company reported ($0.19) EPS for the quarter. XPeng had a negative return on equity of 23.38% and a negative net margin of 21.64%. The company 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 Trading of XPeng

A number of institutional investors and hedge funds have recently bought and sold shares of XPEV. Ballentine Partners LLC increased 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 acquiring an additional 6,376 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of XPeng by 17.6% during the first quarter. Van ECK Associates Corp now owns 232,428 shares of the company's stock valued at $1,785,000 after purchasing an additional 34,788 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of XPeng by 35.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 978,588 shares of the company's stock valued at $7,516,000 after buying an additional 257,300 shares during the last quarter. Capstone Investment Advisors LLC boosted its position in shares of XPeng by 399.0% during the first quarter. Capstone Investment Advisors LLC now owns 123,271 shares of the company's stock valued at $947,000 after buying an additional 98,569 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in XPeng by 292.7% in the 1st quarter. SG Americas Securities LLC now owns 265,106 shares of the company's stock worth $2,036,000 after buying an additional 197,601 shares in the last quarter. 23.05% of the stock is currently 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.