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

XPeng Inc. (NYSE:XPEV - Get Free Report)'s stock price gapped down before the market opened on Thursday . The stock had previously closed at $22.25, but opened at $21.29. XPeng shares last traded at $20.78, with a volume of 4,538,158 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on XPEV. Daiwa America downgraded shares of XPeng from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Daiwa Capital Markets reaffirmed a "neutral" rating and set a $24.00 price target on shares of XPeng in a research note on Wednesday, March 19th. JPMorgan Chase & Co. dropped their price objective on XPeng from $35.00 to $31.00 and set an "overweight" rating on the stock in a report on Wednesday, March 19th. Sanford C. Bernstein set a $18.00 price objective on shares of XPeng and gave the company a "market perform" rating in a research report on Wednesday, March 19th. Finally, Citigroup upgraded shares of XPeng from a "neutral" rating to a "buy" rating and raised their price target for the company from $13.70 to $29.00 in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $22.75.

XPeng Stock Performance

The stock has a market cap of $19.68 billion, a P/E ratio of -23.83 and a beta of 2.64. The firm has a 50 day moving average of $19.98 and a two-hundred day moving average of $16.76. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37.

XPeng (NYSE:XPEV - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.51) by $1.41. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $15.80 billion. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.92%. On average, research analysts predict that XPeng Inc. will post -0.96 EPS for the current fiscal year.

Institutional Investors Weigh In On XPeng

Several hedge funds have recently made changes to their positions in XPEV. Farther Finance Advisors LLC lifted its position in shares of XPeng by 70.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,291 shares of the company's stock worth $27,000 after acquiring an additional 532 shares during the period. EverSource Wealth Advisors LLC lifted its position in XPeng by 55.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company's stock worth $30,000 after purchasing an additional 898 shares during the period. Atlas Capital Advisors Inc. boosted its stake in XPeng by 651.0% during the first quarter. Atlas Capital Advisors Inc. now owns 1,502 shares of the company's stock worth $31,000 after buying an additional 1,302 shares in the last quarter. Avior Wealth Management LLC increased its holdings in XPeng by 1,215.2% in the 4th quarter. Avior Wealth Management LLC now owns 2,775 shares of the company's stock valued at $33,000 after buying an additional 2,564 shares during the period. Finally, Garde Capital Inc. acquired a new position in shares of XPeng in the 1st quarter valued at $39,000. Institutional investors own 21.09% of the company's stock.

XPeng Company Profile

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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