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

XPeng Inc. (NYSE:XPEV - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $16.65, but opened at $15.58. XPeng shares last traded at $15.72, with a volume of 2,416,824 shares changing hands.

Analysts Set New Price Targets

A number of research firms have recently issued reports on XPEV. Citigroup dropped their price target on XPeng from $14.60 to $13.70 and set a "neutral" rating on the stock in a research report on Wednesday, November 20th. Sanford C. Bernstein boosted their price target on shares of XPeng from $9.00 to $14.00 and gave the company a "market perform" rating in a report on Wednesday, November 20th. The Goldman Sachs Group lowered shares of XPeng from a "buy" rating to a "neutral" rating and set a $12.50 price objective on the stock. in a report on Thursday, November 21st. UBS Group restated a "sell" rating and set a $8.80 target price (up previously from $8.20) on shares of XPeng in a report on Thursday, December 5th. Finally, Macquarie reiterated a "neutral" rating and issued a $18.00 price target on shares of XPeng in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $12.91.

XPeng Stock Up 3.4 %

The company has a 50-day moving average of $13.59 and a 200-day moving average of $11.43. The company has a market capitalization of $15.11 billion, a price-to-earnings ratio of -18.44 and a beta of 2.77. The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22.

Institutional Investors Weigh In On XPeng

Institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its stake in XPeng by 55.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company's stock worth $30,000 after acquiring an additional 898 shares during the last quarter. Avior Wealth Management LLC increased its holdings in shares of XPeng by 1,215.2% in the fourth quarter. Avior Wealth Management LLC now owns 2,775 shares of the company's stock valued at $33,000 after purchasing an additional 2,564 shares during the period. Lindbrook Capital LLC raised its stake in shares of XPeng by 50.7% in the fourth quarter. Lindbrook Capital LLC now owns 3,382 shares of the company's stock worth $40,000 after purchasing an additional 1,138 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of XPeng in the fourth quarter worth about $41,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of XPeng during the third quarter worth about $45,000. 21.09% of the stock is currently owned by institutional investors and hedge funds.

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.