XPeng (NYSE:XPEV) Stock Price Down 4.2%

XPeng Inc. (NYSE:XPEV)’s share price was down 4.2% during mid-day trading on Thursday . The company traded as low as $7.05 and last traded at $7.11. Approximately 3,261,947 shares were traded during trading, a decline of 76% from the average daily volume of 13,664,983 shares. The stock had previously closed at $7.42.

Analyst Ratings Changes

A number of equities research analysts have issued reports on XPEV shares. JPMorgan Chase & Co. reduced their target price on shares of XPeng from $19.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, February 23rd. Macquarie started coverage on shares of XPeng in a report on Monday. They issued a “neutral” rating and a $7.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, XPeng has an average rating of “Hold” and an average target price of $17.48.

XPeng Price Performance

The stock’s fifty day moving average price is $8.72 and its two-hundred day moving average price is $12.35. The firm has a market capitalization of $6.74 billion, a price-to-earnings ratio of -4.41 and a beta of 2.93. The company has a current ratio of 1.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18.

XPeng (NYSE:XPEV) last announced its quarterly earnings results on Tuesday, March 19th. The company reported ($0.21) EPS for the quarter. XPeng had a negative return on equity of 31.17% and a negative net margin of 33.77%. The company had revenue of $1.84 billion for the quarter. Equities research analysts expect that XPeng Inc. will post -1.25 EPS for the current year.

Institutional Investors Weigh In On XPeng

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Ballentine Partners LLC raised its stake in XPeng by 47.0% during the 1st quarter. Ballentine Partners LLC now owns 19,933 shares of the company’s stock worth $153,000 after acquiring an additional 6,376 shares in the last quarter. Electron Capital Partners LLC purchased a new position in XPeng during the 4th quarter worth $26,047,000. Virtu Financial LLC purchased a new position in XPeng during the 4th quarter worth $943,000. Scarborough Advisors LLC purchased a new position in XPeng during the 4th quarter worth $52,000. Finally, Twenty Acre Capital LP grew its position in XPeng by 40.3% during the 4th quarter. Twenty Acre Capital LP now owns 175,100 shares of the company’s stock worth $2,555,000 after purchasing an additional 50,300 shares during the last quarter. 23.05% of the stock is currently owned by institutional investors and hedge funds.

About XPeng

XPeng Inc designs, develops, manufactures, and markets smart electric vehicles (EV) 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, maintenance, super charging, technical support, auto financing, insurance technology support, ride-hailing, automotive loan referral, and other services, as well as vehicle leasing and insurance agency services.