XPENG (NYSE:XPEV) Reaches New 1-Year Low - Time to Sell?

Key Points

• XPeng shares hit a new 52-week low, falling to $10.96 and trading around $11.08, below their 50-day and 200-day moving averages.
• Analyst sentiment is mixed: the stock has an average “Hold” rating and a consensus price target of $25.31, while recent actions included a sell downgrade from Wall Street Zen and reduced targets from JPMorgan and Barclays.
• Institutional investors and hedge funds own about 21.09% of XPeng, with several firms increasing or initiating positions despite the stock’s recent weakness.

XPENG Inc. Sponsored ADR (NYSE:XPEV - Get Free Report) hit a new 52-week low on Wednesday . The company traded as low as $10.96 and last traded at $11.0750, with a volume of 1068518 shares trading hands. The stock had previously closed at $11.17.

Wall Street Analysts Forecast Growth

XPEV has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of XPENG from a "hold" rating to a "sell" rating in a research report on Sunday, May 24th. JPMorgan Chase & Co. dropped their price target on shares of XPENG from $27.00 to $24.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 25th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $25.20 price target on shares of XPENG in a research note on Friday, May 29th. Bank of America reiterated a "buy" rating on shares of XPENG in a report on Thursday, May 28th. Finally, Barclays lowered their price objective on shares of XPENG from $15.00 to $14.00 and set an "underweight" rating on the stock in a research note on Tuesday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Sell rating to the company. According to data from MarketBeat.com, XPENG has an average rating of "Hold" and a consensus price target of $25.31.

XPENG Price Performance

The company has a 50 day moving average of $12.49 and a two-hundred day moving average of $15.30. The firm has a market cap of $10.54 billion, a P/E ratio of -22.99 and a beta of 1.11. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.50.

Hedge Funds Weigh In On XPENG

Several hedge funds have recently made changes to their positions in the business. Valeo Financial Advisors LLC raised its holdings in shares of XPENG by 0.3% in the 2nd quarter. Valeo Financial Advisors LLC now owns 387,230 shares of the company's stock worth $5,127,000 after purchasing an additional 1,052 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in 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 buying an additional 28,983 shares in the last quarter. DNB Asset Management AS bought a new stake in XPENG during the fourth quarter worth approximately $2,325,000. Ethic Inc. grew its position in XPENG by 6.1% in the fourth quarter. Ethic Inc. now owns 78,380 shares of the company's stock worth $1,590,000 after buying an additional 4,493 shares during the last quarter. Finally, Nykredit A S acquired a new position in XPENG in the second quarter worth approximately $825,000. Institutional investors and hedge funds own 21.09% of the company's stock.

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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