XPENG (NYSE:XPEV) Reaches New 1-Year Low – Here’s Why

Shares of XPENG Inc. Sponsored ADR (NYSE:XPEV) reached a new 52-week low during trading on Wednesday . The stock traded as low as $10.70 and last traded at $10.7550, with a volume of 1064135 shares traded. The stock had previously closed at $10.93.

Analyst Upgrades and Downgrades

XPEV has been the topic of a number of recent analyst reports. Jefferies Financial Group reiterated a “buy” rating and set a $25.20 price target on shares of XPENG in a research note on Friday, May 29th. Barclays lowered their price objective on XPENG from $15.00 to $14.00 and set an “underweight” rating on the stock in a report on Tuesday, August 25th. Weiss Ratings upgraded XPENG from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 26th. Bank of America reissued a “buy” rating on shares of XPENG in a research note on Thursday, May 28th. Finally, UBS Group assumed coverage on XPENG in a report on Wednesday. They issued a “neutral” rating and a $12.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $23.65.

XPENG Price Performance

The stock’s fifty day moving average price is $12.33 and its 200-day moving average price is $15.06. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.86 and a current ratio of 1.11. The firm has a market cap of $10.19 billion, a PE ratio of -22.26 and a beta of 1.11.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in XPEV. Parallel Advisors LLC lifted its position in shares of XPENG by 6.0% during the 4th quarter. Parallel Advisors LLC now owns 10,293 shares of the company’s stock valued at $209,000 after acquiring an additional 584 shares during the period. Valeo Financial Advisors LLC increased its stake in XPENG by 0.3% in the 2nd quarter. Valeo Financial Advisors LLC now owns 387,230 shares of the company’s stock valued at $5,127,000 after purchasing an additional 1,052 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in XPENG by 45.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,906 shares of the company’s stock valued at $79,000 after purchasing an additional 1,212 shares in the last quarter. BNP Paribas raised its holdings in XPENG by 10.8% during the fourth quarter. BNP Paribas now owns 16,350 shares of the company’s stock worth $332,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Greenleaf Trust boosted its position in XPENG by 18.3% during the second quarter. Greenleaf Trust now owns 19,075 shares of the company’s stock worth $253,000 after purchasing an additional 2,948 shares in the last quarter. 21.09% of the stock is currently owned by institutional investors and hedge funds.

About XPENG

XPENG Inc (NYSE: XPEV) is a China-based developer and manufacturer of smart electric vehicles. The company designs, engineers and sells battery-electric sedans and sport-utility vehicles along with related software and services. Founded in 2014, XPENG positions itself as a technology-driven automaker with a focus on vehicle connectivity, software-defined features and advanced driver assistance systems.

Product offerings center on passenger EVs spanning compact crossovers and midsize sedans, supported by in-house software platforms and over-the-air update capabilities.