XPeng (NYSE:XPEV) Stock Price Down 5.8% After Analyst Downgrade

XPeng Inc. (NYSE:XPEV)’s stock price dropped 5.8% during mid-day trading on Thursday after Daiwa America downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $22.22 and last traded at $22.43. Approximately 3,189,841 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 13,290,787 shares. The stock had previously closed at $23.80.

Other research analysts have also recently issued reports about the stock. Nomura raised shares of XPeng from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $14.00 to $30.00 in a research note on Wednesday. Daiwa Capital Markets reaffirmed a “neutral” rating and set a $24.00 target price on shares of XPeng in a research note on Wednesday. Sanford C. Bernstein boosted their target price on shares of XPeng from $9.00 to $14.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. Barclays boosted their target price on shares of XPeng from $7.00 to $20.00 and gave the stock an “underweight” rating in a research note on Thursday. Finally, Nomura Securities raised shares of XPeng to a “strong-buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, XPeng currently has an average rating of “Hold” and an average price target of $21.84.

Institutional Trading of XPeng

Several institutional investors have recently modified their holdings of XPEV. EverSource Wealth Advisors LLC grew its stake in shares of XPeng by 55.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock worth $30,000 after purchasing an additional 898 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in XPeng by 1,215.2% in the fourth quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock valued at $33,000 after buying an additional 2,564 shares during the period. Lindbrook Capital LLC lifted its holdings in XPeng by 50.7% in the fourth quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock valued at $40,000 after buying an additional 1,138 shares during the period. Golden State Wealth Management LLC acquired a new position in XPeng in the fourth quarter valued at $41,000. Finally, Natixis acquired a new position in XPeng in the fourth quarter valued at $43,000. Institutional investors own 21.09% of the company’s stock.

XPeng Trading Down 1.2 %

The firm has a market cap of $20.54 billion, a price-to-earnings ratio of -25.06 and a beta of 2.68. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18. The firm’s fifty day moving average is $18.29 and its 200-day moving average is $14.02.

XPeng (NYSE:XPEV) last released its earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.36) by $1.17. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $16.11 billion. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.92%. Equities analysts anticipate that XPeng Inc. will post -0.96 earnings per share for the current year.

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.