XPeng (NYSE:XPEV) Shares Down 3.8% - Here's What Happened

Shares of XPeng Inc. (NYSE:XPEV - Get Free Report) fell 3.8% during trading on Thursday . The company traded as low as $19.60 and last traded at $19.66. 2,060,617 shares traded hands during trading, a decline of 83% from the average session volume of 11,883,308 shares. The stock had previously closed at $20.43.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Citigroup upgraded XPeng from a "neutral" rating to a "buy" rating and upped their price target for the stock from $13.70 to $29.00 in a report on Monday, March 10th. Daiwa Capital Markets reiterated a "neutral" rating and issued a $24.00 target price on shares of XPeng in a research note on Wednesday, March 19th. Bank of America increased their target price on shares of XPeng from $18.60 to $27.00 and gave the company a "buy" rating in a report on Wednesday, March 19th. JPMorgan Chase & Co. dropped their price target on XPeng from $35.00 to $31.00 and set an "overweight" rating on the stock in a report on Wednesday, March 19th. Finally, Daiwa America downgraded XPeng from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, XPeng has an average rating of "Hold" and a consensus target price of $22.29.

XPeng Stock Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18. The company has a 50 day simple moving average of $19.59 and a 200-day simple moving average of $17.64. The stock has a market capitalization of $17.28 billion, a P/E ratio of -20.93 and a beta of 2.58.

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, beating analysts' consensus estimates of ($1.51) by $1.41. The business had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $15.80 billion. XPeng had a negative return on equity of 16.92% and a negative net margin of 15.35%. On average, equities analysts forecast that XPeng Inc. will post -0.96 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Alibaba Group Holding Ltd lifted its position in shares of XPeng by 21.2% during the fourth quarter. Alibaba Group Holding Ltd now owns 37,959,232 shares of the company's stock worth $448,678,000 after acquiring an additional 6,650,000 shares in the last quarter. TMT General Partner Ltd raised its stake in shares of XPeng by 88.2% during the 1st quarter. TMT General Partner Ltd now owns 32,726,800 shares of the company's stock valued at $678,099,000 after purchasing an additional 15,340,907 shares during the period. BNP Paribas Financial Markets lifted its holdings in XPeng by 567.4% during the 1st quarter. BNP Paribas Financial Markets now owns 5,306,883 shares of the company's stock worth $109,959,000 after purchasing an additional 4,511,751 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in XPeng by 1,138.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,598,454 shares of the company's stock worth $54,354,000 after purchasing an additional 4,227,055 shares in the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in XPeng by 947.5% in the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,759,750 shares of the company's stock worth $20,800,000 after purchasing an additional 1,591,750 shares during the period. 21.09% of the stock is currently owned by hedge funds and other institutional investors.

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.