XPeng (NYSE:XPEV) Shares Gap Down to $13.34

XPeng Inc. (NYSE:XPEV)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $13.34, but opened at $12.81. XPeng shares last traded at $12.84, with a volume of 2,999,724 shares.

Analysts Set New Price Targets

Several research analysts have issued reports on XPEV shares. Macquarie upgraded shares of XPeng from a “neutral” rating to an “outperform” rating in a report on Friday, August 30th. Citigroup dropped their target price on shares of XPeng from $8.30 to $7.60 and set a “neutral” rating on the stock in a report on Wednesday, August 21st. JPMorgan Chase & Co. upgraded shares of XPeng from a “neutral” rating to an “overweight” rating and raised their price target for the company from $8.00 to $11.50 in a report on Thursday, September 5th. Finally, Bank of America lowered their price target on shares of XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $9.42.

XPeng Stock Down 7.0 %

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 stock has a market capitalization of $11.68 billion, a PE ratio of -8.48 and a beta of 2.78. The company’s 50-day moving average is $8.49 and its 200 day moving average is $8.21.

XPeng (NYSE:XPEV) last posted its quarterly earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. XPeng had a negative return on equity of 23.38% and a negative net margin of 21.64%. The business had revenue of $1.12 billion for the quarter. As a group, analysts anticipate that XPeng Inc. will post -0.95 EPS for the current year.

Hedge Funds Weigh In On XPeng

Several institutional investors have recently made changes to their positions in XPEV. Ghisallo Capital Management LLC purchased a new position in shares of XPeng during the 4th quarter valued at approximately $9,537,000. Robeco Schweiz AG grew its stake in XPeng by 3.8% in the 4th quarter. Robeco Schweiz AG now owns 2,336,330 shares of the company’s stock valued at $34,087,000 after acquiring an additional 85,000 shares during the period. Caas Capital Management LP acquired a new stake in XPeng in the 4th quarter valued at $153,000. Scarborough Advisors LLC acquired a new stake in XPeng in the 4th quarter valued at $52,000. Finally, Virtu Financial LLC acquired a new stake in XPeng in the 4th quarter valued at $943,000. 23.05% of the stock is owned by hedge funds and other institutional investors.

About XPeng

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.