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

Key Points

• XPeng shares gapped down before the market opened, starting at $20.22 from a previous close of $20.79, with the last trading price at $20.14.
• Analysts have shown mixed sentiments with the company: Goldman Sachs upgraded XPeng's rating to "buy" and increased the price target to $24.00, while the consensus rating stands at "Moderate Buy" with an average target of $23.85.
• Institutional investors have been actively adjusting their stakes, with notable increases, including a 651% raise in holdings by Atlas Capital Advisors.

XPeng Inc. Sponsored ADR (NYSE:XPEV - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $20.79, but opened at $20.22. XPeng shares last traded at $20.14, with a volume of 984,279 shares.

Analysts Set New Price Targets

A number of brokerages have issued reports on XPEV. The Goldman Sachs Group upgraded shares of XPeng from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $16.40 to $24.00 in a research note on Tuesday, June 17th. BNP Paribas Exane assumed coverage on shares of XPeng in a research note on Monday, August 18th. They issued a "neutral" rating and a $19.00 price target on the stock. Sanford C. Bernstein set a $19.00 price target on shares of XPeng and gave the company a "market perform" rating in a research note on Thursday, May 22nd. Bank of America raised their price target on shares of XPeng from $25.00 to $26.00 and gave the company a "buy" rating in a research note on Tuesday, August 19th. Finally, Citigroup raised their price target on shares of XPeng from $29.00 to $29.40 and gave the company a "buy" rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $23.85.

XPeng Trading Down 2.5%

The firm's 50-day moving average is $19.44 and its 200 day moving average is $19.87. The company has a current ratio of 1.14, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $19.24 billion, a price-to-earnings ratio of -32.17 and a beta of 2.51.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its holdings in XPeng by 70.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,291 shares of the company's stock worth $27,000 after purchasing an additional 532 shares during the last quarter. Atlas Capital Advisors Inc. raised its holdings in XPeng by 651.0% during the 1st quarter. Atlas Capital Advisors Inc. now owns 1,502 shares of the company's stock worth $31,000 after purchasing an additional 1,302 shares during the last quarter. Garde Capital Inc. bought a new position in XPeng during the 1st quarter worth approximately $39,000. SVB Wealth LLC bought a new position in XPeng during the 1st quarter worth approximately $46,000. Finally, Bayforest Capital Ltd raised its holdings in XPeng by 145.5% during the 1st quarter. Bayforest Capital Ltd now owns 2,283 shares of the company's stock worth $47,000 after purchasing an additional 1,353 shares during the last quarter. Institutional investors 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.

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