XPeng (NYSE:XPEV) Shares Gap Down – What’s Next?

XPeng Inc. (NYSE:XPEV)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $13.26, but opened at $12.82. XPeng shares last traded at $12.71, with a volume of 2,462,136 shares.

Analyst Upgrades and Downgrades

XPEV has been the subject of several research reports. The Goldman Sachs Group lowered shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target for the company. in a research report on Thursday, November 21st. UBS Group restated a “sell” rating and set a $8.80 price target (up previously from $8.20) on shares of XPeng in a research note on Thursday, December 5th. Sanford C. Bernstein increased their price objective on XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. raised XPeng from a “neutral” rating to an “overweight” rating and upped their price target for the company from $8.00 to $11.50 in a research report on Thursday, September 5th. Finally, China Renaissance raised XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective for the company in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $11.69.

XPeng Stock Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37. The company has a market capitalization of $11.90 billion, a P/E ratio of -14.52 and a beta of 2.76. The business has a 50 day moving average of $12.47 and a 200-day moving average of $10.06.

Hedge Funds Weigh In On XPeng

Large investors have recently modified their holdings of the company. Virtu Financial LLC bought a new position in XPeng in the 3rd quarter worth about $915,000. Y Intercept Hong Kong Ltd bought a new position in shares of XPeng in the third quarter worth approximately $6,233,000. Quantinno Capital Management LP lifted its position in XPeng by 99.2% during the third quarter. Quantinno Capital Management LP now owns 27,153 shares of the company’s stock valued at $331,000 after purchasing an additional 13,520 shares during the last quarter. Point72 Italy S.r.l. purchased a new position in XPeng in the 3rd quarter worth approximately $1,160,000. Finally, Polymer Capital Management HK LTD bought a new position in shares of XPeng in the 3rd quarter worth $487,000. 21.09% 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.