XPENG (NYSE:XPEV) Shares Gap Down - Here's Why

Key Points

• XPENG shares gapped down, opening at $17.31 after a prior close of $17.87 and last trading around $17.495 with about 1.33 million shares changing hands.
• Analyst sentiment is mixed — MarketBeat shows an average rating of "Hold" with an average price target of $24.74, while individual broker notes range from "Strong Buy" to "Sell" (Barclays cut its target to $16; Loop Capital at $25).
• Fundamentals show signs of strain: XPENG has negative profitability metrics (negative net margin and ROE, P/E of -103.98), a 50-day moving average of $17.87 below its 200-day MA of $20.02, and a market cap of about $16.8 billion.

Shares of XPENG Inc. Sponsored ADR (NYSE:XPEV - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $17.87, but opened at $17.31. XPENG shares last traded at $17.4950, with a volume of 1,328,195 shares changing hands.

Wall Street Analyst Weigh In

XPEV has been the topic of a number of recent analyst reports. Citigroup reissued a "buy" rating on shares of XPENG in a research note on Friday, February 6th. Barclays cut their price objective on XPENG from $17.00 to $16.00 and set an "underweight" rating on the stock in a research note on Tuesday, March 24th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of XPENG in a research report on Wednesday, January 21st. Morgan Stanley reaffirmed a "reduce" rating on shares of XPENG in a research report on Monday, December 29th. Finally, Loop Capital set a $25.00 price target on XPENG in a research report on Tuesday, January 6th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $24.74.

XPENG Price Performance

The company has a fifty day moving average price of $17.87 and a two-hundred day moving average price of $20.02. The company has a current ratio of 1.09, a quick ratio of 0.91 and a debt-to-equity ratio of 0.24. The company has a market cap of $16.77 billion, a price-to-earnings ratio of -103.98 and a beta of 1.18.

XPENG (NYSE:XPEV - Get Free Report) last announced its quarterly earnings results on Sunday, February 15th. The company reported $0.04 EPS for the quarter. The business had revenue of $3.18 billion for the quarter. XPENG had a negative return on equity of 3.69% and a negative net margin of 1.46%. As a group, equities research analysts anticipate that XPENG Inc. Sponsored ADR will post -0.96 EPS for the current fiscal year.

Institutional Trading of XPENG

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC boosted its stake in XPENG by 7.1% in the 4th quarter. SG Americas Securities LLC now owns 1,168,406 shares of the company's stock valued at $23,695,000 after buying an additional 77,476 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in XPENG by 29.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 127,533 shares of the company's stock valued at $2,280,000 after buying an additional 28,983 shares in the last quarter. Greenleaf Trust boosted its stake in XPENG by 4.7% in the 3rd quarter. Greenleaf Trust now owns 17,005 shares of the company's stock valued at $398,000 after buying an additional 770 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in XPENG in the 3rd quarter valued at $249,000. Finally, EverSource Wealth Advisors LLC boosted its stake in XPENG by 16.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,694 shares of the company's stock valued at $63,000 after buying an additional 389 shares in the last quarter. Institutional investors and hedge funds own 21.09% of the company's stock.

About XPENG

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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