XPeng (NYSE:XPEV) Shares Gap Down to $8.54

XPeng Inc. (NYSE:XPEV) shares gapped down before the market opened on Monday . The stock had previously closed at $8.54, but opened at $8.24. XPeng shares last traded at $8.20, with a volume of 1,088,184 shares changing hands.

Analyst Upgrades and Downgrades

XPEV has been the subject of a number of recent analyst reports. Macquarie raised XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Citigroup lowered their price target on XPeng from $8.30 to $7.60 and set a “neutral” rating for the company in a report on Wednesday, August 21st. Daiwa Capital Markets upgraded shares of XPeng from a “neutral” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Thursday, May 23rd. JPMorgan Chase & Co. upgraded shares of XPeng from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $8.00 to $11.50 in a research note on Thursday. Finally, Bank of America dropped their target price on shares of XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $12.08.

XPeng Stock Performance

The stock has a 50-day moving average of $7.80 and a 200 day moving average of $8.11. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.31.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XPEV. Natixis purchased a new position in shares of XPeng during the 1st quarter valued at about $38,000. Harel Insurance Investments & Financial Services Ltd. raised its position in XPeng by 122.4% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock valued at $39,000 after acquiring an additional 2,920 shares in the last quarter. Scarborough Advisors LLC acquired a new position in XPeng in the fourth quarter valued at approximately $52,000. Blue Trust Inc. boosted its position in XPeng by 2,615.9% in the 2nd quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock worth $75,000 after purchasing an additional 9,391 shares in the last quarter. Finally, 180 Wealth Advisors LLC acquired a new stake in shares of XPeng during the 2nd quarter worth approximately $78,000. 23.05% of the stock is currently owned by institutional investors and hedge funds.

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.