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

Shares of XPeng Inc. (NYSE:XPEV - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $19.43, but opened at $17.11. XPeng shares last traded at $16.84, with a volume of 3,798,377 shares.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Citigroup raised XPeng from a "neutral" rating to a "buy" rating and upped their price target for the company from $13.70 to $29.00 in a report on Monday, March 10th. JPMorgan Chase & Co. cut their target price on XPeng from $35.00 to $31.00 and set an "overweight" rating for the company in a research note on Wednesday, March 19th. Macquarie reiterated a "neutral" rating and set a $18.00 price target on shares of XPeng in a research note on Friday, February 7th. Bank of America increased their price objective on shares of XPeng from $18.60 to $27.00 and gave the company a "buy" rating in a research note on Wednesday, March 19th. Finally, UBS Group upgraded shares of XPeng from a "sell" rating to a "neutral" rating and lifted their target price for the company from $8.80 to $18.00 in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $22.20.

XPeng Trading Up 11.5 %

The company has a market cap of $18.87 billion, a price-to-earnings ratio of -23.03 and a beta of 2.62. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. The company's fifty day moving average price is $19.96 and its two-hundred day moving average price is $15.23.

XPeng (NYSE:XPEV - Get Free Report) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.36) by $1.17. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $16.11 billion. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. Research analysts expect that XPeng Inc. will post -0.96 earnings per share for the current year.

Institutional Investors Weigh In On XPeng

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its holdings in shares of XPeng by 1,053.8% in the third quarter. FMR LLC now owns 323,581 shares of the company's stock valued at $3,941,000 after purchasing an additional 295,536 shares in the last quarter. Quantinno Capital Management LP boosted its position in XPeng by 99.2% in the 3rd quarter. Quantinno Capital Management LP now owns 27,153 shares of the company's stock valued at $331,000 after buying an additional 13,520 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of XPeng in the 3rd quarter valued at $915,000. TMT General Partner Ltd bought a new stake in shares of XPeng during the fourth quarter worth $205,501,000. Finally, Ballentine Partners LLC lifted its stake in shares of XPeng by 23.4% during the fourth quarter. Ballentine Partners LLC now owns 21,647 shares of the company's stock valued at $256,000 after acquiring an additional 4,105 shares during the period. Institutional investors and hedge funds 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.