XPeng (NYSE:XPEV) Trading Down 5.5% – Time to Sell?

Shares of XPeng Inc. (NYSE:XPEV) dropped 5.5% during trading on Monday . The company traded as low as $11.61 and last traded at $11.93. Approximately 6,279,039 shares changed hands during trading, a decline of 53% from the average daily volume of 13,306,990 shares. The stock had previously closed at $12.63.

Analyst Ratings Changes

Several research firms recently commented on XPEV. JPMorgan Chase & Co. raised shares of XPeng from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $8.00 to $11.50 in a report on Thursday, September 5th. The Goldman Sachs Group cut 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. Sanford C. Bernstein raised their target price on XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. Citigroup decreased their price target on XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a research report on Wednesday, November 20th. Finally, UBS Group reissued a “sell” rating and set a $8.80 price objective (up previously from $8.20) on shares of XPeng in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.69.

XPeng Trading Down 5.2 %

The stock has a market capitalization of $11.28 billion, a PE ratio of -13.76 and a beta of 2.76. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average price is $12.47 and its 200-day moving average price is $10.08.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Primecap Management Co. CA raised its position in shares of XPeng by 5.6% during the second quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock valued at $120,369,000 after buying an additional 872,160 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of XPeng by 212.1% in the second quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock worth $31,910,000 after purchasing an additional 2,724,549 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of XPeng in the third quarter worth about $22,047,000. Point72 Europe London LLP purchased a new position in XPeng during the 2nd quarter valued at approximately $5,923,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in XPeng in the 3rd quarter worth approximately $6,233,000. 21.09% of the stock is owned by hedge funds and other 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.