XPeng (NYSE:XPEV) Shares Down 2.9% - Here's Why

XPeng Inc. (NYSE:XPEV - Get Free Report) shares fell 2.9% during mid-day trading on Tuesday . The company traded as low as $19.12 and last traded at $19.42. 1,916,910 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 12,119,984 shares. The stock had previously closed at $20.00.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Nomura raised XPeng from a "neutral" rating to a "buy" rating and boosted their target price for the company from $14.00 to $30.00 in a research note on Wednesday, March 19th. Daiwa Capital Markets reissued a "neutral" rating and issued a $24.00 target price on shares of XPeng in a research note on Wednesday, March 19th. Citigroup raised XPeng from a "neutral" rating to a "buy" rating and boosted their target price for the company from $13.70 to $29.00 in a research note on Monday, March 10th. Nomura Securities raised XPeng to a "strong-buy" rating in a research report on Tuesday, March 18th. Finally, Daiwa America lowered XPeng from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 19th. One 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $22.29.

XPeng Stock Up 4.0%

The company has a 50-day simple moving average of $19.64 and a 200-day simple moving average of $17.02. The firm has a market cap of $19.08 billion, a PE ratio of -23.11 and a beta of 2.64. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18.

XPeng (NYSE:XPEV - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.51) by $1.41. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $15.80 billion. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. Analysts expect that XPeng Inc. will post -0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On XPeng

Hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its holdings in XPeng by 70.1% in the first quarter. Farther Finance Advisors LLC now owns 1,291 shares of the company's stock valued at $27,000 after purchasing an additional 532 shares during the last quarter. Atlas Capital Advisors Inc. boosted its holdings in XPeng by 651.0% in the first quarter. Atlas Capital Advisors Inc. now owns 1,502 shares of the company's stock valued at $31,000 after purchasing an additional 1,302 shares during the last quarter. Garde Capital Inc. purchased a new stake in XPeng in the first quarter valued at $39,000. SVB Wealth LLC purchased a new stake in XPeng in the first quarter valued at $46,000. Finally, Bayforest Capital Ltd boosted its holdings in XPeng by 145.5% in the first quarter. Bayforest Capital Ltd now owns 2,283 shares of the company's stock valued at $47,000 after purchasing an additional 1,353 shares during the last quarter. 21.09% of the stock is owned by hedge funds and other institutional investors.

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.