XPENG (NYSE:XPEV) Hits New 1-Year Low - Here's Why

Key Points

• XPENG shares fell to a new 52-week low of $8.95 during Friday trading, last changing hands near $9.10 and remaining below both its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but leans cautious: JPMorgan and Barclays cut their price targets, Weiss Ratings downgraded the stock, and the overall consensus rating is “Hold” with a $21.24 target.
• Institutional ownership stands at 21.09%, with several investors recently building positions, while XPENG continues developing smart electric vehicles featuring connected software and advanced driver-assistance technology.

XPENG Inc. Sponsored ADR (NYSE:XPEV - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Friday. The company traded as low as $8.95 and last traded at $9.1030, with a volume of 863,308 shares traded. The stock had previously closed at $9.18.

Analyst Ratings Changes

A number of research firms have weighed in on XPEV. The Goldman Sachs Group set a $16.00 target price on shares of XPENG in a research note on Friday, October 23rd. Weiss Ratings cut XPENG from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, October 14th. JPMorgan Chase & Co. reduced their price objective on XPENG from $11.50 to $10.00 and set a "neutral" rating on the stock in a research report on Monday. Barclays lowered their price objective on XPENG from $15.00 to $14.00 and set an "underweight" rating on the stock in a research note on Tuesday, August 25th. Finally, UBS Group initiated coverage on XPENG in a report on Wednesday, September 9th. They issued a "neutral" rating and a $12.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $21.24.

XPENG Trading Down 1.4%

The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average price of $10.21 and a 200 day moving average price of $14.59. The firm has a market cap of $8.64 billion, a price-to-earnings ratio of -18.91 and a beta of 1.07.

Institutional Investors Weigh In On XPENG

A number of institutional investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its position in shares of XPENG by 393.4% in the third quarter. Quadrant Capital Group LLC now owns 93,100 shares of the company's stock worth $908,000 after buying an additional 74,230 shares in the last quarter. Nykredit A S purchased a new stake in XPENG during the second quarter valued at about $825,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in XPENG during the 3rd quarter valued at $493,000. SteelPeak Wealth LLC purchased a new position in XPENG during the 3rd quarter valued at $213,000. Finally, Crossmark Global Holdings Inc. grew its holdings in shares of XPENG by 28.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 67,900 shares of the company's stock worth $649,000 after acquiring an additional 14,842 shares during the period. 21.09% of the stock is owned by institutional investors and hedge funds.

About XPENG

XPeng Inc is a China-based technology company focused on the design, development, manufacture and sale of smart electric vehicles. The company combines electric powertrain technology with software, connectivity and advanced driver-assistance features to develop vehicles intended for digitally connected and increasingly automated transportation.

XPeng's product portfolio has included electric sedans, sport utility vehicles and multipurpose vehicles, such as the P7 sedan, P5 sedan, G6 and G9 SUVs, and X9 multipurpose vehicle.

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