XPeng (NYSE:XPEV) Shares Down 2.5%

XPeng Inc. (NYSE:XPEV - Get Free Report) traded down 2.5% on Wednesday . The stock traded as low as $8.81 and last traded at $8.82. 1,763,473 shares traded hands during trading, a decline of 86% from the average session volume of 12,850,265 shares. The stock had previously closed at $9.05.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Bank of America reduced 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. Citigroup dropped their price target on XPeng from $8.30 to $7.60 and set a "neutral" rating for the company in a research note on Wednesday, August 21st. Daiwa Capital Markets upgraded XPeng from a "neutral" rating to a "buy" rating and set a $11.00 price target for the company in a research note on Thursday, May 23rd. Daiwa America upgraded XPeng to a "strong-buy" rating in a research note on Thursday, May 23rd. Finally, Macquarie upgraded XPeng from a "neutral" rating to an "outperform" rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, XPeng currently has an average rating of "Buy" and a consensus price target of $12.08.

XPeng Trading Down 4.4 %

The firm has a market capitalization of $8.15 billion, a PE ratio of -5.84 and a beta of 2.75. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.31 and a current ratio of 1.50. The firm has a fifty day moving average of $7.96 and a 200 day moving average of $8.09.

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

Institutional Investors Weigh In On XPeng

Several hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in XPeng during the 4th quarter worth approximately $41,993,000. Bank of Montreal Can increased its holdings in XPeng by 212.1% during the 2nd quarter. Bank of Montreal Can now owns 4,008,846 shares of the company's stock worth $31,910,000 after purchasing an additional 2,724,549 shares during the last quarter. Electron Capital Partners LLC purchased a new stake in XPeng during the 4th quarter worth approximately $26,047,000. Primecap Management Co. CA increased its holdings in XPeng by 5.6% during the 2nd quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company's stock worth $120,369,000 after purchasing an additional 872,160 shares during the last quarter. Finally, Point72 Europe London LLP purchased a new stake in XPeng during the 2nd quarter worth approximately $5,923,000. 23.05% of the stock is currently owned by hedge funds and other institutional investors.

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.