XPeng (NYSE:XPEV) Shares Gap Down - Here's What Happened

XPeng Inc. (NYSE:XPEV - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $24.56, but opened at $23.34. XPeng shares last traded at $22.79, with a volume of 8,025,117 shares trading hands.

Wall Street Analysts Forecast Growth

XPEV has been the topic of several research reports. Bank of America boosted their target price on XPeng from $18.60 to $27.00 and gave the company a "buy" rating in a research note on Wednesday. Daiwa America lowered XPeng from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. UBS Group upgraded XPeng from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $8.80 to $18.00 in a research note on Monday, February 24th. Citigroup upgraded XPeng from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $13.70 to $29.00 in a research note on Monday, March 10th. Finally, JPMorgan Chase & Co. decreased their price objective on XPeng from $35.00 to $31.00 and set an "overweight" rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, XPeng has an average rating of "Hold" and an average target price of $21.84.

XPeng Price Performance

The business's 50 day moving average is $18.29 and its two-hundred day moving average is $14.05. The firm has a market capitalization of $20.54 billion, a PE ratio of -25.06 and a beta of 2.68. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18.

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XPeng (NYSE:XPEV - Get Free Report) last issued its quarterly earnings results on Tuesday, March 18th. The company reported ($0.19) EPS for the quarter, beating analysts' consensus estimates of ($1.36) by $1.17. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.92%. The business had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $16.11 billion. As a group, research analysts anticipate that XPeng Inc. will post -0.96 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its position in XPeng by 55.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company's stock valued at $30,000 after acquiring an additional 898 shares during the last quarter. Avior Wealth Management LLC grew 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 worth $33,000 after purchasing an additional 2,564 shares during the last quarter. Lindbrook Capital LLC grew its holdings 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 bought a new position in shares of XPeng in the fourth quarter worth approximately $41,000. Finally, Natixis bought a new position in shares of XPeng in the fourth quarter worth approximately $43,000. 21.09% of the stock is currently 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.