XPENG (NYSE:XPEV) Hits New 52-Week Low - Here's Why

Key Points

• XPENG shares hit a new 52-week low, falling to $9.02 during Thursday trading from a prior close of $9.36.
• Analysts have become more cautious: JPMorgan downgraded the stock to “neutral,” while Barclays, UBS and Weiss Ratings maintained negative or neutral views. The consensus rating is “Hold,” with a $22.09 price target.
• XPENG has an $8.81 billion market capitalization, and institutional investors own 21.09% of its shares; several funds recently increased their positions or initiated new stakes.

XPENG Inc. Sponsored ADR (NYSE:XPEV - Get Free Report) reached a new 52-week low during trading on Thursday. The stock traded as low as $9.02 and last traded at $9.1150, with a volume of 459,923 shares changing hands. The stock had previously closed at $9.36.

Analyst Ratings Changes

Several analysts have weighed in on the company. Weiss Ratings lowered XPENG from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, October 14th. UBS Group started coverage on XPENG in a report on Wednesday, September 9th. They issued a "neutral" rating and a $12.00 target price for the company. Barclays lowered their price target on shares of XPENG from $15.00 to $14.00 and set an "underweight" rating on the stock in a report on Tuesday, August 25th. Finally, JPMorgan Chase & Co. lowered XPENG from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $24.00 to $11.50 in a report on Tuesday, September 29th. 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 issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $22.09.

XPENG Stock Down 1.4%

The firm has a market capitalization of $8.81 billion, a price-to-earnings ratio of -19.14 and a beta of 1.07. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.86 and a current ratio of 1.11. The business's 50 day moving average is $10.52 and its 200-day moving average is $13.29.

Institutional Trading of XPENG

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Valeo Financial Advisors LLC lifted its stake in shares of XPENG by 0.3% in the second quarter. Valeo Financial Advisors LLC now owns 387,230 shares of the company's stock valued at $5,127,000 after buying an additional 1,052 shares during the period. Quadrant Capital Group LLC increased its holdings in XPENG by 393.4% in the 3rd quarter. Quadrant Capital Group LLC now owns 93,100 shares of the company's stock valued at $908,000 after buying an additional 74,230 shares during the period. Crossmark Global Holdings Inc. raised its stake in shares of XPENG by 28.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 67,900 shares of the company's stock valued at $649,000 after buying an additional 14,842 shares in the last quarter. Nykredit A S bought a new position in shares of XPENG during the 2nd quarter worth about $825,000. Finally, SteelPeak Wealth LLC bought a new stake in XPENG in the third quarter valued at about $213,000. 21.09% of the stock is currently 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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