XPeng (NYSE:XPEV) Stock Price Down 5.8% on Analyst Downgrade

XPeng Inc. (NYSE:XPEV - Get Free Report)'s stock price dropped 5.8% during trading on Thursday after Daiwa America downgraded the stock from a strong-buy rating to a hold rating. The stock traded as low as $22.22 and last traded at $22.43. Approximately 3,189,841 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 13,290,787 shares. The stock had previously closed at $23.80.

Several other research firms have also commented on XPEV. Macquarie reissued a "neutral" rating and set a $18.00 price target on shares of XPeng in a research report on Friday, February 7th. Bank of America increased their target price on shares of XPeng from $18.60 to $27.00 and gave the company a "buy" rating in a research report on Wednesday, March 19th. Citigroup raised shares of XPeng from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $13.70 to $29.00 in a report on Monday, March 10th. JPMorgan Chase & Co. decreased their price objective on XPeng from $35.00 to $31.00 and set an "overweight" rating for the company in a report on Wednesday, March 19th. Finally, Nomura raised XPeng from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $14.00 to $30.00 in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $21.84.

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Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. lifted its holdings in shares of XPeng by 48.9% during the third quarter. Advisors Asset Management Inc. now owns 49,624 shares of the company's stock worth $604,000 after purchasing an additional 16,289 shares during the period. Citigroup Inc. lifted its stake in XPeng by 14.2% during the 3rd quarter. Citigroup Inc. now owns 293,321 shares of the company's stock valued at $3,573,000 after acquiring an additional 36,560 shares during the period. FMR LLC lifted its stake in XPeng by 1,053.8% during the 3rd quarter. FMR LLC now owns 323,581 shares of the company's stock valued at $3,941,000 after acquiring an additional 295,536 shares during the period. Flow Traders U.S. LLC purchased a new stake in shares of XPeng in the 3rd quarter valued at $360,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of XPeng in the third quarter worth $22,047,000. 21.09% of the stock is owned by institutional investors and hedge funds.

XPeng Trading Down 1.8 %

The stock has a market cap of $20.17 billion, a PE ratio of -24.61 and a beta of 2.68. The company's fifty day moving average is $18.48 and its 200-day moving average is $14.18. 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 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 company had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $16.11 billion. On average, analysts predict that XPeng Inc. will post -0.96 earnings per share for the current fiscal year.

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.