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

Shares of XPeng Inc. (NYSE:XPEV - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $8.54, but opened at $8.16. XPeng shares last traded at $7.85, with a volume of 10,938,913 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. reduced their price objective on shares of XPeng from $19.00 to $9.00 and set a "neutral" rating for the company in a report on Friday, February 23rd. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $18.64.

XPeng Stock Down 8.5 %

The firm has a market capitalization of $6.73 billion, a P/E ratio of -4.65 and a beta of 2.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.51 and a quick ratio of 1.36. The stock has a fifty day moving average of $9.16 and a 200 day moving average of $13.42.

Institutional Trading of XPeng

Several hedge funds have recently added to or reduced their stakes in the stock. E Fund Management Hong Kong Co. Ltd. increased its holdings in XPeng by 137.4% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 228,925 shares of the company's stock worth $6,089,000 after acquiring an additional 132,487 shares during the last quarter. American Century Companies Inc. raised its position in shares of XPeng by 8.3% in the first quarter. American Century Companies Inc. now owns 29,681 shares of the company's stock valued at $819,000 after purchasing an additional 2,266 shares during the period. US Bancorp DE lifted its stake in shares of XPeng by 13.9% during the 1st quarter. US Bancorp DE now owns 6,271 shares of the company's stock valued at $173,000 after buying an additional 767 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in XPeng by 37.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,385 shares of the company's stock valued at $507,000 after buying an additional 5,021 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in XPeng by 3.2% during the 1st quarter. BlackRock Inc. now owns 20,215,942 shares of the company's stock valued at $557,756,000 after acquiring an additional 619,993 shares during the period. Institutional investors own 23.05% of the company's stock.

XPeng Company Profile

XPeng Inc designs, develops, manufactures, and markets smart electric vehicles (EV) 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, maintenance, super charging, technical support, auto financing, insurance technology support, ride-hailing, automotive loan referral, and other services, as well as vehicle leasing and insurance agency services.