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

XPeng Inc. (NYSE:XPEV - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $21.08, but opened at $20.29. XPeng shares last traded at $19.91, with a volume of 2,224,506 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on XPEV shares. Nomura raised shares of XPeng from a "neutral" rating to a "buy" rating and lifted their target price for the company from $14.00 to $30.00 in a research note on Wednesday, March 19th. Nomura Securities raised XPeng to a "strong-buy" rating in a research report on Tuesday, March 18th. Barclays upped their target price on XPeng from $7.00 to $20.00 and gave the stock an "underweight" rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. dropped their price target on shares of XPeng from $35.00 to $31.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 19th. Finally, Daiwa Capital Markets reissued a "neutral" rating and issued a $24.00 price objective on shares of XPeng in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $22.20.

XPeng Stock Performance

The firm has a market cap of $17.28 billion, a P/E ratio of -20.93 and a beta of 2.62. The stock's 50 day moving average is $20.23 and its two-hundred day moving average is $15.45. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18.

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

Hedge Funds Weigh In On XPeng

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in shares of XPeng by 70.1% in the first quarter. Farther Finance Advisors LLC now owns 1,291 shares of the company's stock valued at $27,000 after acquiring an additional 532 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in XPeng by 55.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company's stock valued at $30,000 after purchasing an additional 898 shares during the last quarter. Avior Wealth Management LLC boosted its stake in 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 in the last quarter. Lindbrook Capital LLC grew its holdings in shares of XPeng by 50.7% during 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. Finally, Golden State Wealth Management LLC acquired a new stake in shares of XPeng in the fourth quarter valued at $41,000. 21.09% of the stock is currently owned by institutional investors and hedge funds.

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.