XPeng Inc. (NYSE:XPEV – Get Rating) shares gapped down prior to trading on Monday after Citigroup downgraded the stock from a buy rating to a sell rating. The stock had previously closed at $6.89, but opened at $6.53. XPeng shares last traded at $6.71, with a volume of 374,952 shares traded.
A number of other equities research analysts have also recently commented on the stock. Barclays lowered their price target on shares of XPeng from $22.00 to $8.00 and set an “equal weight” rating on the stock in a report on Friday. Nomura cut XPeng from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $64.60 to $36.30 in a research note on Thursday, June 30th. Nomura Instinet reiterated a “neutral” rating and set a $36.30 target price on shares of XPeng in a research report on Friday, July 1st. Finally, Macquarie cut shares of XPeng from an “outperform” rating to a “neutral” rating and set a $25.00 price target on the stock. in a research note on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $35.01.
Hedge Funds Weigh In On XPeng
Several institutional investors and hedge funds have recently modified their holdings of the stock. Activest Wealth Management purchased a new stake in XPeng during the 3rd quarter valued at $36,000. Tradition Wealth Management LLC raised its position in XPeng by 65.6% in the 2nd quarter. Tradition Wealth Management LLC now owns 1,159 shares of the company’s stock worth $37,000 after buying an additional 459 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of XPeng by 114.1% during the 1st quarter. AdvisorNet Financial Inc now owns 2,013 shares of the company’s stock valued at $56,000 after acquiring an additional 1,073 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in shares of XPeng during the first quarter valued at approximately $61,000. Finally, Captrust Financial Advisors lifted its position in XPeng by 50.0% during the first quarter. Captrust Financial Advisors now owns 2,400 shares of the company’s stock valued at $66,000 after purchasing an additional 800 shares during the period. 25.15% of the stock is currently owned by institutional investors.
XPeng Stock Down 2.5 %
The company has a quick ratio of 1.78, a current ratio of 1.97 and a debt-to-equity ratio of 0.10. The company has a market cap of $5.75 billion, a PE ratio of -5.22 and a beta of 3.35. The company’s fifty day moving average is $13.27 and its 200-day moving average is $21.28.
XPeng (NYSE:XPEV – Get Rating) last posted its quarterly earnings data on Tuesday, August 23rd. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($2.61) by $2.14. The company had revenue of $1.11 billion during the quarter. XPeng had a negative return on equity of 17.44% and a negative net margin of 24.82%. On average, analysts predict that XPeng Inc. will post -1.54 EPS for the current year.
XPeng Company Profile
XPeng Inc designs, develops, manufactures, and markets smart electric vehicles in the People’s Republic of China. It offers SUVs under the G3 and G3i names; four-door sports sedans under the P7 name; and family sedans under the P5 name. The company also provides sales contracts, maintenance, super charging, vehicle leasing, insurance agency, ride-hailing, technical support, automotive loan referral and auto financing, music subscription, and other services.