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

XPeng Inc. (NYSE:XPEV - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $26.34, but opened at $24.94. XPeng shares last traded at $25.51, with a volume of 5,531,509 shares.

Analyst Ratings Changes

Several equities research analysts recently weighed in on XPEV shares. UBS Group raised XPeng from a "sell" rating to a "neutral" rating and increased their price target for the stock from $8.80 to $18.00 in a report on Monday, February 24th. Citigroup raised XPeng from a "neutral" rating to a "buy" rating and raised their target price for the company from $13.70 to $29.00 in a report on Monday, March 10th. The Goldman Sachs Group downgraded XPeng from a "buy" rating to a "neutral" rating and set a $12.50 target price for the company. in a report on Thursday, November 21st. China Renaissance raised XPeng from a "hold" rating to a "buy" rating and set a $16.70 target price for the company in a report on Friday, November 22nd. Finally, Sanford C. Bernstein raised their target price on XPeng from $9.00 to $14.00 and gave the company a "market perform" rating in a report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $15.63.

XPeng Trading Down 7.9 %

The firm has a market cap of $21.30 billion, a PE ratio of -25.99 and a beta of 2.68. The business has a 50-day moving average price of $17.48 and a two-hundred day moving average price of $13.69. 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) earnings per share for the quarter, beating analysts' consensus estimates of ($1.36) by $1.17. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. Analysts forecast that XPeng Inc. will post -0.96 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new stake in XPeng during the 4th quarter worth about $70,000. Vise Technologies Inc. purchased a new stake in XPeng during the 4th quarter worth about $142,000. Vident Advisory LLC increased its position in XPeng by 7.6% during the 4th quarter. Vident Advisory LLC now owns 53,632 shares of the company's stock worth $634,000 after purchasing an additional 3,810 shares in the last quarter. Twinbeech Capital LP increased its position in XPeng by 22.4% during the 4th quarter. Twinbeech Capital LP now owns 407,097 shares of the company's stock worth $4,812,000 after purchasing an additional 74,574 shares in the last quarter. Finally, Polar Capital Holdings Plc purchased a new stake in XPeng during the 4th quarter worth about $6,596,000. Hedge funds and other institutional investors own 21.09% of the company's stock.

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.