XPeng (NYSE:XPEV) Shares Down 3.6% - Should You Sell?

XPeng Inc. (NYSE:XPEV - Get Free Report) shares were down 3.6% on Friday . The company traded as low as $12.29 and last traded at $12.35. Approximately 1,397,065 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 13,557,773 shares. The stock had previously closed at $12.81.

Analysts Set New Price Targets

A number of brokerages recently commented on XPEV. UBS Group reiterated a "sell" rating and set a $8.80 target price (up previously from $8.20) on shares of XPeng in a research note on Thursday, December 5th. Sanford C. Bernstein lifted their price target on XPeng from $9.00 to $14.00 and gave the stock a "market perform" rating in a report on Wednesday, November 20th. Bank of America dropped their price objective on XPeng from $11.00 to $10.00 and set a "buy" rating on the stock in a report on Wednesday, August 21st. Citigroup decreased their target price on XPeng from $14.60 to $13.70 and set a "neutral" rating for the company in a research note on Wednesday, November 20th. Finally, Macquarie upgraded shares of XPeng from a "neutral" rating to an "outperform" rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.69.

XPeng Trading Down 4.0 %

The business's 50-day moving average price is $12.27 and its 200-day moving average price is $9.74. The firm has a market capitalization of $11.59 billion, a PE ratio of -14.14 and a beta of 2.76. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18.

Hedge Funds Weigh In On XPeng

A number of hedge funds and other institutional investors have recently made changes to their positions in XPEV. Bank of Montreal Can lifted its stake in shares of XPeng by 212.1% in the 2nd quarter. Bank of Montreal Can now owns 4,008,846 shares of the company's stock worth $31,910,000 after acquiring an additional 2,724,549 shares during the period. Point72 Hong Kong Ltd purchased a new position in XPeng during the third quarter worth about $22,047,000. Primecap Management Co. CA raised its holdings in XPeng by 5.6% during the second 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 in the last quarter. Point72 Europe London LLP acquired a new stake in XPeng in the second quarter valued at about $5,923,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in XPeng in the 3rd quarter valued at approximately $6,233,000. Hedge funds and other institutional investors own 21.09% of the company's stock.

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.