XPeng (NYSE:XPEV) Shares Gap Down After Analyst Downgrade

Shares of XPeng Inc. (NYSE:XPEV) gapped down before the market opened on Thursday after The Goldman Sachs Group downgraded the stock from a buy rating to a neutral rating. The stock had previously closed at $12.64, but opened at $12.12. The Goldman Sachs Group now has a $12.50 price target on the stock. XPeng shares last traded at $12.15, with a volume of 1,959,963 shares traded.

Other analysts also recently issued research reports about the stock. Bank of America reduced their target price on shares of XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Macquarie raised XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Sanford C. Bernstein lifted their price target on XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a report on Wednesday. JPMorgan Chase & Co. upgraded XPeng from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $8.00 to $11.50 in a research note on Thursday, September 5th. Finally, Citigroup lowered their price objective on XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, XPeng has a consensus rating of “Moderate Buy” and a consensus price target of $11.39.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of XPEV. Sei Investments Co. increased its stake in XPeng by 83.0% in the first quarter. Sei Investments Co. now owns 129,400 shares of the company’s stock valued at $994,000 after acquiring an additional 58,700 shares during the last quarter. Natixis bought a new position in XPeng in the first quarter valued at about $38,000. Alpine Global Management LLC acquired a new position in XPeng during the first quarter worth about $307,000. Tidal Investments LLC lifted its holdings in shares of XPeng by 25.2% in the first quarter. Tidal Investments LLC now owns 93,420 shares of the company’s stock worth $717,000 after acquiring an additional 18,826 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of XPeng by 100.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,100,000 shares of the company’s stock valued at $8,864,000 after purchasing an additional 550,000 shares in the last quarter. Institutional investors and hedge funds own 23.05% of the company’s stock.

XPeng Stock Performance

The company has a current ratio of 1.50, a quick ratio of 1.31 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $11.55 billion, a price-to-earnings ratio of -14.10 and a beta of 2.80. The stock’s 50-day moving average is $11.75 and its 200-day moving average is $9.26.

XPeng (NYSE:XPEV) last announced its quarterly earnings results on Tuesday, August 20th. The company reported ($0.19) EPS for the quarter. The firm had revenue of $1.12 billion during the quarter. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.63%. On average, analysts predict that XPeng Inc. will post -1.01 EPS for the current fiscal year.

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.