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

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.

Wall Street Analysts Forecast Growth

XPEV has been the topic of several recent research reports. Macquarie restated a "neutral" rating and set a $18.00 target price on shares of XPeng in a research report on Friday, February 7th. Citigroup decreased their target price on shares of XPeng from $14.60 to $13.70 and set a "neutral" rating on the stock in a research report on Wednesday, November 20th. UBS Group restated a "sell" rating and set a $8.80 target price (up from $8.20) on shares of XPeng in a research report on Thursday, December 5th. The Goldman Sachs Group cut shares of XPeng from a "buy" rating to a "neutral" rating and set a $12.50 target price on the stock. in a research report on Thursday, November 21st. Finally, China Renaissance raised shares of XPeng from a "hold" rating to a "buy" rating and set a $16.70 price objective on the stock in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $12.91.

XPeng Price Performance

The company has a current ratio of 1.37, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $15.67 billion, a PE ratio of -19.12 and a beta of 2.77. The stock's 50-day moving average is $13.86 and its two-hundred day moving average is $11.66.

Hedge Funds Weigh In On XPeng

A number of hedge funds have recently added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd acquired a new stake in shares of XPeng during the third quarter worth $6,233,000. FMR LLC lifted its stake in shares of XPeng by 1,053.8% during the third quarter. FMR LLC now owns 323,581 shares of the company's stock worth $3,941,000 after buying an additional 295,536 shares during the period. TMT General Partner Ltd acquired a new stake in shares of XPeng during the fourth quarter worth $205,501,000. Point72 Hong Kong Ltd acquired a new stake in shares of XPeng during the third quarter worth $22,047,000. Finally, Central Asset Investments & Management Holdings HK Ltd lifted its stake in shares of XPeng by 36.0% during the third quarter. Central Asset Investments & Management Holdings HK Ltd now owns 408,000 shares of the company's stock worth $4,969,000 after buying an additional 108,000 shares during the period. 21.09% of the stock is currently owned by institutional investors.

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.