XPeng (NYSE:XPEV) Shares Gap Down – Here’s Why

XPeng Inc. (NYSE:XPEV) shares gapped down prior to trading on Tuesday . The stock had previously closed at $21.39, but opened at $20.41. XPeng shares last traded at $21.04, with a volume of 3,344,551 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on XPEV. Macquarie reaffirmed a “neutral” rating and issued a $18.00 price target on shares of XPeng in a report on Friday, February 7th. Barclays upped their target price on shares of XPeng from $7.00 to $20.00 and gave the company an “underweight” rating in a report on Thursday, March 20th. Nomura raised shares of XPeng from a “neutral” rating to a “buy” rating and increased their target price for the company from $14.00 to $30.00 in a research report on Wednesday, March 19th. Daiwa Capital Markets reissued a “neutral” rating and issued a $24.00 price target on shares of XPeng in a research report on Wednesday, March 19th. Finally, Nomura Securities upgraded shares of XPeng to a “strong-buy” rating in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $21.84.

XPeng Stock Down 1.9 %

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 firm has a 50 day simple moving average of $18.48 and a two-hundred day simple moving average of $14.18. The company has a market capitalization of $19.76 billion, a PE ratio of -24.11 and a beta of 2.68.

XPeng (NYSE:XPEV) last announced its quarterly earnings data 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. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $16.11 billion. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. Research analysts expect that XPeng Inc. will post -0.96 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in shares of XPeng by 55.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock valued at $30,000 after acquiring an additional 898 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in XPeng by 1,215.2% in the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock valued at $33,000 after purchasing an additional 2,564 shares in the last quarter. Lindbrook Capital LLC boosted its stake in shares of XPeng by 50.7% during the 4th 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. Golden State Wealth Management LLC purchased a new stake in shares of XPeng during the fourth quarter worth about $41,000. Finally, Natixis acquired a new position in shares of XPeng in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds 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.