XPENG (NYSE:XPEV) Shares Gap Down - Time to Sell?

Key Points

• XPENG shares fell 6.0%, opening at $9.52 after previously closing at $9.91 and later trading near $9.40. The stock remains below its 50-day and 200-day moving averages of $10.57 and $13.34, respectively.
• Analyst sentiment is mixed but leans cautious: recent firms lowered price targets and ratings, while the overall consensus is “Hold” with a $22.09 target price.
• Several hedge funds increased or initiated positions in XPENG during the third quarter, but institutional investors collectively own only 21.09% of the company.

XPENG Inc. Sponsored ADR (NYSE:XPEV - Get Free Report)'s stock price gapped down before the market opened on Wednesday. The stock had previously closed at $9.91, but opened at $9.52. XPENG shares last traded at $9.3950, with a volume of 2,199,408 shares traded.

Analysts Set New Price Targets

XPEV has been the topic of several recent research reports. UBS Group began coverage on XPENG in a report on Wednesday, September 9th. They set a "neutral" rating and a $12.00 target price on the stock. Barclays reduced their price target on XPENG from $15.00 to $14.00 and set an "underweight" rating on the stock in a research report on Tuesday, August 25th. JPMorgan Chase & Co. cut XPENG from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $24.00 to $11.50 in a research note on Tuesday, September 29th. Finally, Weiss Ratings downgraded XPENG from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $22.09.

XPENG Stock Down 6.0%

The stock's 50-day moving average price is $10.57 and its 200-day moving average price is $13.34. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.50. The stock has a market cap of $8.89 billion, a price-to-earnings ratio of -19.39 and a beta of 1.07.

Hedge Funds Weigh In On XPENG

Hedge funds have recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its position in XPENG by 393.4% during the third quarter. Quadrant Capital Group LLC now owns 93,100 shares of the company's stock valued at $908,000 after acquiring an additional 74,230 shares during the last quarter. SteelPeak Wealth LLC acquired a new stake in XPENG during the 3rd quarter worth about $213,000. TD Waterhouse Canada Inc. raised its position in shares of XPENG by 133.6% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 15,605 shares of the company's stock worth $149,000 after acquiring an additional 8,925 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of XPENG by 57.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,850 shares of the company's stock worth $46,000 after acquiring an additional 1,771 shares in the last quarter. Finally, CX Institutional bought a new position in shares of XPENG in the 3rd quarter worth about $60,000. Institutional investors own 21.09% of the company's stock.

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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