XPeng (NYSE:XPEV) Stock Price Down 4.5% – What’s Next?

XPeng Inc. (NYSE:XPEV)’s stock price dropped 4.5% on Friday . The stock traded as low as $11.55 and last traded at $11.74. Approximately 3,043,623 shares changed hands during trading, a decline of 78% from the average daily volume of 13,687,539 shares. The stock had previously closed at $12.29.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on XPEV. Macquarie raised XPeng from a “neutral” rating to an “outperform” rating in a research note on Friday, August 30th. Sanford C. Bernstein increased their price target on shares of XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a research report on Wednesday. The Goldman Sachs Group downgraded shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price objective on the stock. in a research report on Thursday. Citigroup dropped their price objective on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Bank of America decreased their target price on shares of XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.05.

XPeng Trading Down 3.1 %

The company has a market cap of $11.22 billion, a price-to-earnings ratio of -13.69 and a beta of 2.80. The company’s 50 day moving average price is $11.81 and its 200 day moving average price is $9.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.31 and a current ratio of 1.37.

Hedge Funds Weigh In On XPeng

Institutional investors have recently bought and sold shares of the stock. Natixis bought a new stake in shares of XPeng during the 1st quarter worth about $38,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in XPeng by 122.4% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock worth $39,000 after purchasing an additional 2,920 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in XPeng during the third quarter valued at approximately $45,000. Blue Trust Inc. raised its position in shares of XPeng by 2,615.9% in the second quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock valued at $75,000 after purchasing an additional 9,391 shares during the period. Finally, 180 Wealth Advisors LLC bought a new position in shares of XPeng in the second quarter valued at approximately $78,000. 23.05% of the stock is currently owned by 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.