XPeng (NYSE:XPEV) Shares Gap Down to $7.17

XPeng Inc. (NYSE:XPEV - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $7.17, but opened at $6.99. XPeng shares last traded at $7.01, with a volume of 1,249,438 shares.

Analysts Set New Price Targets

A number of brokerages have commented on XPEV. Macquarie began coverage on shares of XPeng in a report on Monday. They issued a "neutral" rating and a $7.00 target price for the company. JPMorgan Chase & Co. cut their price objective on shares of XPeng from $19.00 to $9.00 and set a "neutral" rating on the stock in a report on Friday, February 23rd. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $17.48.

XPeng Trading Down 3.3 %

The stock has a 50-day moving average of $8.67 and a 200 day moving average of $12.24. The stock has a market cap of $6.53 billion, a PE ratio of -4.13 and a beta of 2.93. The company has a quick ratio of 1.36, a current ratio of 1.51 and a debt-to-equity ratio of 0.18.

XPeng (NYSE:XPEV - Get Free Report) last issued its earnings results on Tuesday, March 19th. The company reported ($0.21) EPS for the quarter. The firm had revenue of $1.84 billion during the quarter. XPeng had a negative net margin of 33.77% and a negative return on equity of 31.17%. As a group, sell-side analysts anticipate that XPeng Inc. will post -1.25 earnings per share for the current year.

Institutional Investors Weigh In On XPeng

A number of large investors have recently bought and sold shares of XPEV. E Fund Management Hong Kong Co. Ltd. boosted its position 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 purchasing an additional 132,487 shares in the last quarter. American Century Companies Inc. boosted its position in XPeng by 8.3% in the 1st quarter. American Century Companies Inc. now owns 29,681 shares of the company's stock worth $819,000 after purchasing an additional 2,266 shares in the last quarter. US Bancorp DE boosted its position in XPeng by 13.9% in the 1st quarter. US Bancorp DE now owns 6,271 shares of the company's stock worth $173,000 after purchasing an additional 767 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in XPeng by 37.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,385 shares of the company's stock worth $507,000 after purchasing an additional 5,021 shares in the last quarter. Finally, BlackRock Inc. boosted its position in XPeng by 3.2% in the 1st quarter. BlackRock Inc. now owns 20,215,942 shares of the company's stock worth $557,756,000 after purchasing an additional 619,993 shares in the last quarter. Hedge funds and other 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.