XPeng (NYSE:XPEV) Shares Down 9.6% - What's Next?

XPeng Inc. (NYSE:XPEV - Get Free Report)'s share price traded down 9.6% during mid-day trading on Tuesday . The stock traded as low as $11.72 and last traded at $11.83. Approximately 5,163,023 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 13,368,942 shares. The stock had previously closed at $13.08.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on XPEV. JPMorgan Chase & Co. upgraded shares of 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 price objective on XPeng from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, August 21st. Macquarie upgraded XPeng from a "neutral" rating to an "outperform" rating in a research report on Friday, August 30th. Finally, Citigroup lowered their price target 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 investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, XPeng presently has a consensus rating of "Buy" and an average target price of $9.42.

XPeng Stock Down 7.3 %

The company has a market cap of $11.42 billion, a P/E ratio of -8.10 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. The business's 50 day moving average price is $8.76 and its 200-day moving average price is $8.26.

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

Institutional Trading of XPeng

Hedge funds have recently modified their holdings of the stock. Natixis acquired a new stake in XPeng in the first quarter worth about $38,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of 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 buying an additional 2,920 shares during the last quarter. Scarborough Advisors LLC bought a new stake in shares of XPeng during the fourth quarter worth approximately $52,000. Blue Trust Inc. lifted its holdings in XPeng by 2,615.9% in the second quarter. Blue Trust Inc. now owns 9,750 shares of the company's stock valued at $75,000 after buying an additional 9,391 shares during the period. Finally, 180 Wealth Advisors LLC bought a new position in XPeng in the second quarter valued at approximately $78,000. 23.05% of the stock is owned by 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.