XPeng (NYSE:XPEV) Shares Down 5.3% - Should You Sell?

Key Points

• XPeng Inc. shares fell by 5.3%, closing at $22.90 after trading as low as $22.92, with trading volume down by 63% compared to average levels.
• Analysts have mixed sentiments on XPeng, with Citigroup raising its price target to $29.40 while Weiss Ratings issued a "sell" rating, resulting in a consensus rating of "Moderate Buy" and an average target price of $23.85.
• Institutional investors have shown significant interest, with Farther Finance Advisors increasing their position by 70.1% and SG Americas Securities raising theirs by 508.7% in the first quarter.

Shares of XPeng Inc. Sponsored ADR (NYSE:XPEV - Get Free Report) dropped 5.3% on Thursday . The company traded as low as $22.92 and last traded at $22.90. Approximately 3,562,876 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 9,552,085 shares. The stock had previously closed at $24.19.

Wall Street Analyst Weigh In

XPEV has been the topic of a number of analyst reports. Citigroup increased their price objective on shares of XPeng from $29.00 to $29.40 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Weiss Ratings reissued a "sell (d-)" rating on shares of XPeng in a research note on Wednesday. BNP Paribas began coverage on XPeng in a report on Monday, August 18th. They set a "hold" rating on the stock. CLSA raised shares of XPeng to a "strong-buy" rating in a research note on Monday, September 22nd. Finally, Morgan Stanley set a $28.00 price objective on shares of XPeng and gave the stock an "overweight" rating in a research note on Thursday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $23.85.

XPeng Stock Performance

The firm's 50-day moving average price is $21.29 and its two-hundred day moving average price is $19.94. The firm has a market capitalization of $21.73 billion, a PE ratio of -36.35 and a beta of 2.54. The company has a quick ratio of 1.00, a current ratio of 1.14 and a debt-to-equity ratio of 0.22.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in XPEV. Farther Finance Advisors LLC increased its position in shares of XPeng by 70.1% in the first quarter. Farther Finance Advisors LLC now owns 1,291 shares of the company's stock worth $27,000 after acquiring an additional 532 shares in the last quarter. SG Americas Securities LLC increased its position in shares of XPeng by 508.7% in the first quarter. SG Americas Securities LLC now owns 237,667 shares of the company's stock worth $4,924,000 after acquiring an additional 198,619 shares in the last quarter. PFG Investments LLC purchased a new position in shares of XPeng in the first quarter worth approximately $258,000. Garde Capital Inc. purchased a new position in shares of XPeng in the first quarter worth approximately $39,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in XPeng during the first quarter valued at approximately $260,000. 21.09% of the stock is owned by hedge funds and other institutional investors.

About XPeng

XPeng Inc designs, develops, manufactures, and markets smart electric vehicles (EVs) in the People's Republic of China. It offers SUVs under the G3, G3i, and G9 names; four-door sports sedans under the P7 and P7i names; and family sedans under the P5 name. The company also provides sales contracts, super charging, maintenance, technical support, auto financing, insurance, technology support, ride-hailing, automotive loan referral, and other services, as well as vehicle leasing and insurance agency services.

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