XPeng (NYSE:XPEV) Shares Gap Down - Time to Sell?

Shares of XPeng Inc. (NYSE:XPEV - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $11.82, but opened at $11.57. XPeng shares last traded at $11.46, with a volume of 5,009,034 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. JPMorgan Chase & Co. raised XPeng from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $8.00 to $11.50 in a research note on Thursday, September 5th. UBS Group reissued a "sell" rating and set a $8.80 price objective (up previously from $8.20) on shares of XPeng in a report on Thursday, December 5th. China Renaissance raised shares of XPeng from a "hold" rating to a "buy" rating and set a $16.70 target price for the company in a research note on Friday, November 22nd. Sanford C. Bernstein upped their target price on shares of XPeng from $9.00 to $14.00 and gave the stock a "market perform" rating in a research report on Wednesday, November 20th. Finally, Citigroup lowered their price target on shares of XPeng from $14.60 to $13.70 and set a "neutral" rating for the company in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, XPeng has an average rating of "Moderate Buy" and a consensus target price of $11.69.

XPeng Price Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37. The company has a market capitalization of $10.88 billion, a price-to-earnings ratio of -13.28 and a beta of 2.76. The company has a 50-day moving average price of $12.52 and a 200-day moving average price of $10.15.

Institutional Trading of XPeng

A number of large investors have recently made changes to their positions in XPEV. Allspring Global Investments Holdings LLC acquired a new position in XPeng in the third quarter valued at about $45,000. Venturi Wealth Management LLC bought a new position in shares of XPeng during the 3rd quarter valued at about $110,000. Susquehanna International Securities Ltd. acquired a new position in shares of XPeng in the 2nd quarter valued at approximately $129,000. Atomi Financial Group Inc. bought a new stake in XPeng during the 3rd quarter worth approximately $129,000. Finally, Sequoia Financial Advisors LLC increased its stake in XPeng by 24.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,359 shares of the company's stock worth $163,000 after purchasing an additional 2,609 shares in the last quarter. Institutional investors own 21.09% of the company's stock.

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.