XPENG (NYSE:XPEV) Sets New 52-Week Low - Here's What Happened

Key Points

• XPENG shares fell 5% to an intraday 52-week low of $10.26, down from the previous close of $10.71. The stock’s market capitalization is approximately $9.72 billion.
• Analyst sentiment is mixed: Jefferies and Bank of America maintained “buy” ratings, while Barclays cut its target to $14 and JPMorgan lowered its target to $24. MarketBeat reports an overall “hold” consensus and an average target price of $23.65.
• Institutional investors own 21.09% of XPENG, with several funds recently increasing or initiating positions, including Venturi Wealth Management and BNP Paribas.

XPENG Inc. Sponsored ADR (NYSE:XPEV - Get Free Report) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $10.26 and last traded at $10.2650, with a volume of 1302370 shares. The stock had previously closed at $10.71.

Analyst Upgrades and Downgrades

Several brokerages have commented on XPEV. Jefferies Financial Group restated a "buy" rating and issued a $25.20 target price on shares of XPENG in a research note on Friday, May 29th. Bank of America reaffirmed a "buy" rating on shares of XPENG in a research note on Thursday, May 28th. Weiss Ratings lowered shares of XPENG from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday. Barclays lowered their target price 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. Finally, JPMorgan Chase & Co. cut their price target on shares of XPENG from $27.00 to $24.00 and set an "overweight" rating for the company in a report on Tuesday, August 25th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, XPENG has an average rating of "Hold" and a consensus target price of $23.65.

XPENG Trading Down 5.0%

The firm has a market capitalization of $9.72 billion, a P/E ratio of -21.20 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. The firm's 50-day simple moving average is $12.11 and its 200-day simple moving average is $14.85.

Hedge Funds Weigh In On XPENG

Hedge funds and other institutional investors have recently made changes to their positions in the business. Valeo Financial Advisors LLC raised its position 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 during the last quarter. DNB Asset Management AS purchased a new stake in XPENG during the 4th quarter valued at about $2,325,000. Nykredit A S purchased a new stake in XPENG during the 2nd quarter valued at about $825,000. BNP Paribas increased its stake in XPENG by 10.8% during the 4th quarter. BNP Paribas now owns 16,350 shares of the company's stock valued at $332,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in XPENG by 66.3% during the 1st quarter. Venturi Wealth Management LLC now owns 16,481 shares of the company's stock valued at $282,000 after purchasing an additional 6,571 shares in the last quarter. Institutional investors own 21.09% of the company's stock.

XPENG Company Profile

XPeng Inc NYSE: XPEV is a Chinese smart electric vehicle manufacturer that designs, develops, manufactures and markets battery-powered passenger vehicles. The company combines vehicle engineering with software, connectivity and advanced driver-assistance technologies to provide digitally integrated driving experiences.

XPeng's product portfolio has included electric sedans, sport utility vehicles and multi-purpose vehicles, including the P7 sedan, G6 and G9 SUVs, and X9 MPV. Its technology offerings include the XNGP advanced driver-assistance system, in-vehicle operating systems and related smart-cockpit features.

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