XPeng (NYSE:XPEV) Stock Price Down 4.5% – Here’s Why

XPeng Inc. (NYSE:XPEV)’s share price dropped 4.5% on Thursday . The stock traded as low as $12.75 and last traded at $12.75. Approximately 1,790,544 shares were traded during trading, a decline of 87% from the average daily volume of 13,625,882 shares. The stock had previously closed at $13.35.

Analysts Set New Price Targets

A number of brokerages recently commented on XPEV. Citigroup decreased their price target on XPeng from $8.30 to $7.60 and set a “neutral” rating for the company in a research report on Wednesday, August 21st. JPMorgan Chase & Co. upgraded XPeng from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $8.00 to $11.50 in a research note on Thursday, September 5th. Macquarie upgraded shares of XPeng from a “neutral” rating to an “outperform” rating in a research report on Friday, August 30th. Finally, Bank of America lowered their price objective on shares of XPeng from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. One equities 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 stock. According to MarketBeat.com, XPeng has a consensus rating of “Buy” and a consensus target price of $9.42.

XPeng Stock Up 0.8 %

The firm has a fifty day moving average of $11.44 and a two-hundred day moving average of $9.15. The company has a quick ratio of 1.31, a current ratio of 1.50 and a debt-to-equity ratio of 0.18.

XPeng (NYSE:XPEV) last issued its earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. The business had revenue of $1.12 billion for the quarter. XPeng had a negative net margin of 21.64% and a negative return on equity of 23.38%. Sell-side analysts expect that XPeng Inc. will post -1 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in XPEV. 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 period. Point72 Hong Kong Ltd purchased a new stake in XPeng during the third quarter valued at about $22,047,000. Primecap Management Co. CA boosted its position in 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 period. Point72 Europe London LLP purchased a new stake in XPeng during the second quarter valued at about $5,923,000. Finally, Russell Investments Group Ltd. boosted its position in XPeng by 73.7% during the first quarter. Russell Investments Group Ltd. now owns 1,415,568 shares of the company’s stock valued at $10,872,000 after buying an additional 600,437 shares during the period. Institutional investors own 23.05% of the company’s stock.

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.