XPeng (NYSE:XPEV) Trading Down 4% - Here's Why

Shares of XPeng Inc. (NYSE:XPEV - Get Free Report) were down 4% on Thursday . The company traded as low as $10.68 and last traded at $10.71. Approximately 2,874,211 shares were traded during trading, a decline of 79% from the average daily volume of 13,420,081 shares. The stock had previously closed at $11.16.

Analysts Set New Price Targets

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

XPeng Stock Down 6.1 %

The stock has a market capitalization of $9.87 billion, a PE ratio of -8.61 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 fifty day moving average price is $9.78 and its two-hundred day moving average price is $8.56.

XPeng (NYSE:XPEV - Get Free Report) last announced its quarterly earnings data on Tuesday, August 20th. The company reported ($0.19) earnings per share for the quarter. XPeng had a negative net margin of 21.64% and a negative return on equity of 23.38%. The firm had revenue of $1.12 billion during the quarter. On average, equities research analysts forecast that XPeng Inc. will post -0.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XPEV. Ballentine Partners LLC increased its holdings in shares of XPeng by 47.0% during the 1st quarter. Ballentine Partners LLC now owns 19,933 shares of the company's stock valued at $153,000 after purchasing an additional 6,376 shares in the last quarter. Van ECK Associates Corp grew its position in shares of XPeng by 17.6% during the 1st quarter. Van ECK Associates Corp now owns 232,428 shares of the company's stock valued at $1,785,000 after acquiring an additional 34,788 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in XPeng by 35.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 978,588 shares of the company's stock worth $7,516,000 after purchasing an additional 257,300 shares during the period. Capstone Investment Advisors LLC boosted its position in XPeng by 399.0% during the first quarter. Capstone Investment Advisors LLC now owns 123,271 shares of the company's stock worth $947,000 after purchasing an additional 98,569 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in XPeng by 292.7% in the first quarter. SG Americas Securities LLC now owns 265,106 shares of the company's stock valued at $2,036,000 after purchasing an additional 197,601 shares during the period. 23.05% of the stock is currently owned by institutional investors and hedge funds.

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.