XPeng (NYSE:XPEV) Shares Down 5.5% - Time to Sell?

XPeng Inc. (NYSE:XPEV - Get Free Report)'s share price was down 5.5% during mid-day trading on Monday . The company traded as low as $11.61 and last traded at $11.93. Approximately 6,279,039 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 13,306,990 shares. The stock had previously closed at $12.63.

Analyst Upgrades and Downgrades

A number of brokerages have commented on XPEV. Citigroup dropped their price objective 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. JPMorgan Chase & Co. upgraded XPeng from a "neutral" rating to an "overweight" rating and raised their price target for the company from $8.00 to $11.50 in a research note on Thursday, September 5th. Sanford C. Bernstein upped their price objective on XPeng from $9.00 to $14.00 and gave the stock a "market perform" rating in a research report on Wednesday, November 20th. The Goldman Sachs Group downgraded XPeng from a "buy" rating to a "neutral" rating and set a $12.50 price objective on the stock. in a report on Thursday, November 21st. Finally, UBS Group restated a "sell" rating and set a $8.80 target price (up previously from $8.20) on shares of XPeng in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, XPeng presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.69.

XPeng Trading Down 6.0 %

The business's 50-day moving average price is $12.47 and its 200-day moving average price is $10.08. The firm has a market capitalization of $11.18 billion, a PE ratio of -13.64 and a beta of 2.76. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18.

Hedge Funds Weigh In On XPeng

Several institutional investors have recently added to or reduced their stakes in XPEV. Bank of Montreal Can boosted its holdings in shares of XPeng by 212.1% in the second quarter. Bank of Montreal Can now owns 4,008,846 shares of the company's stock valued at $31,910,000 after acquiring an additional 2,724,549 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in XPeng in the third quarter valued at about $22,047,000. Primecap Management Co. CA boosted its holdings in XPeng by 5.6% in the 2nd quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company's stock valued at $120,369,000 after purchasing an additional 872,160 shares in the last quarter. Point72 Europe London LLP acquired a new position in XPeng during the 2nd quarter worth approximately $5,923,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of XPeng during the 3rd quarter worth approximately $6,233,000. 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.