XPeng (NYSE:XPEV) Shares Gap Down - What's Next?

XPeng Inc. (NYSE:XPEV - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $21.08, but opened at $20.29. XPeng shares last traded at $19.91, with a volume of 2,224,506 shares.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on XPEV. UBS Group raised shares of XPeng from a "sell" rating to a "neutral" rating and raised their target price for the company from $8.80 to $18.00 in a research report on Monday, February 24th. Macquarie reiterated a "neutral" rating and set a $18.00 price objective on shares of XPeng in a research note on Friday, February 7th. Citigroup raised shares of XPeng from a "neutral" rating to a "buy" rating and raised their target price for the company from $13.70 to $29.00 in a research note on Monday, March 10th. Nomura Securities raised shares of XPeng to a "strong-buy" rating in a research report on Tuesday, March 18th. Finally, Bank of America increased their price target on shares of XPeng from $18.60 to $27.00 and gave the company a "buy" rating in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, XPeng currently has a consensus rating of "Hold" and a consensus target price of $22.20.

XPeng Stock Down 2.7 %

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37. The stock has a market cap of $17.28 billion, a P/E ratio of -20.93 and a beta of 2.62. The stock's fifty day simple moving average is $20.23 and its 200-day simple moving average is $15.46.

XPeng (NYSE:XPEV - Get Free Report) last announced its quarterly earnings data on Tuesday, March 18th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($1.36) by $1.17. The firm had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $16.11 billion. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. As a group, research analysts forecast that XPeng Inc. will post -0.96 earnings per share for the current fiscal year.

Institutional Trading of XPeng

Large investors have recently made changes to their positions in the company. TMT General Partner Ltd bought a new stake in XPeng during the fourth quarter worth $205,501,000. Alibaba Group Holding Ltd lifted its position in shares of XPeng by 21.2% during the 4th quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company's stock worth $448,678,000 after buying an additional 6,650,000 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in XPeng by 1,138.1% in the fourth quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company's stock valued at $54,354,000 after buying an additional 4,227,055 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in XPeng by 947.5% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,759,750 shares of the company's stock valued at $20,800,000 after acquiring an additional 1,591,750 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in XPeng during the fourth quarter worth about $9,398,000. Institutional investors and hedge funds own 21.09% of the company's stock.

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.