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

Key Points

• XPENG shares hit a new 52-week low, falling to $10.70 during Wednesday trading and last trading at $10.755, down from the prior close of $10.93.
• Analyst sentiment is mixed: JPMorgan and Barclays lowered their price targets to $24 and $14, respectively, while the overall consensus rating is “Hold” with a $23.65 target price.
• Institutional ownership stands at 21.09%, with several firms—including Royal Bank of Canada and Ameriprise Financial—recently increasing their positions in the Chinese electric-vehicle maker.

XPENG Inc. Sponsored ADR (NYSE:XPEV - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $10.70 and last traded at $10.7550, with a volume of 1064135 shares. The stock had previously closed at $10.93.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their target price on XPENG from $27.00 to $24.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 25th. Barclays lowered their price target on XPENG from $15.00 to $14.00 and set an "underweight" rating for the company in a report on Tuesday, August 25th. Bank of America reiterated a "buy" rating on shares of XPENG in a research note on Thursday, May 28th. Weiss Ratings upgraded shares of XPENG from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, August 26th. Finally, Wall Street Zen cut shares of XPENG from a "hold" rating to a "sell" rating in a report on Sunday, May 24th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $23.65.

XPENG Stock Down 2.3%

The business has a 50 day moving average of $12.33 and a 200-day moving average of $15.06. The stock has a market cap of $10.19 billion, a PE ratio of -22.26 and a beta of 1.11. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.50.

Institutional Investors Weigh In On XPENG

Institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada grew its stake in shares of XPENG by 33.6% in the 1st quarter. Royal Bank of Canada now owns 23,657 shares of the company's stock valued at $490,000 after purchasing an additional 5,945 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of XPENG by 29.4% during the second quarter. Ameriprise Financial Inc. now owns 127,533 shares of the company's stock worth $2,280,000 after purchasing an additional 28,983 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of XPENG by 11.0% during the third quarter. Parallel Advisors LLC now owns 9,709 shares of the company's stock worth $227,000 after purchasing an additional 964 shares during the last quarter. Ethic Inc. lifted its holdings in shares of XPENG by 6.1% during the fourth quarter. Ethic Inc. now owns 78,380 shares of the company's stock worth $1,590,000 after purchasing an additional 4,493 shares during the period. Finally, DNB Asset Management AS acquired a new stake in shares of XPENG during the fourth quarter worth $2,325,000. 21.09% of the stock is owned by hedge funds and other institutional investors.

XPENG Company Profile

XPENG Inc NYSE: XPEV is a China-based developer and manufacturer of smart electric vehicles. The company designs, engineers and sells battery-electric sedans and sport-utility vehicles along with related software and services. Founded in 2014, XPENG positions itself as a technology-driven automaker with a focus on vehicle connectivity, software-defined features and advanced driver assistance systems.

Product offerings center on passenger EVs spanning compact crossovers and midsize sedans, supported by in-house software platforms and over-the-air update capabilities.

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