XPeng (NYSE:XPEV) Stock Price Down 5.8% – Time to Sell?

XPeng Inc. Sponsored ADR (NYSE:XPEV)’s stock price fell 5.8% during trading on Wednesday . The company traded as low as $21.48 and last traded at $21.3070. 4,735,757 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 10,176,941 shares. The stock had previously closed at $22.62.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. BNP Paribas assumed coverage on shares of XPeng in a research note on Monday, August 18th. They set a “hold” rating for the company. Citigroup increased their price objective on XPeng from $29.00 to $29.40 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. BNP Paribas Exane began coverage on XPeng in a report on Monday, August 18th. They issued a “neutral” rating and a $19.00 target price on the stock. Daiwa Capital Markets raised XPeng from a “neutral” rating to a “buy” rating and set a $29.00 price target for the company in a report on Tuesday. Finally, Macquarie lifted their price objective on shares of XPeng from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, August 15th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, XPeng has a consensus rating of “Moderate Buy” and an average price target of $24.70.

XPeng Stock Performance

The stock’s fifty day simple moving average is $22.67 and its 200-day simple moving average is $20.69. The company has a quick ratio of 1.00, a current ratio of 1.14 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $20.02 billion, a PE ratio of -50.20 and a beta of 2.54.

XPeng (NYSE:XPEV) last released its quarterly earnings results on Monday, November 17th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.41. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $20.48 billion. XPeng had a negative return on equity of 9.22% and a negative net margin of 4.02%. On average, research analysts predict that XPeng Inc. Sponsored ADR will post -0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On XPeng

Several institutional investors and hedge funds have recently made changes to their positions in XPEV. BNP Paribas acquired a new stake in XPeng in the 3rd quarter valued at about $345,000. Parallel Advisors LLC grew its position in shares of XPeng by 11.0% in the third quarter. Parallel Advisors LLC now owns 9,709 shares of the company’s stock valued at $227,000 after purchasing an additional 964 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of XPeng by 16.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,694 shares of the company’s stock worth $63,000 after purchasing an additional 389 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in shares of XPeng during the 3rd quarter worth approximately $249,000. Finally, SG Americas Securities LLC lifted its stake in XPeng by 356.9% in the 3rd quarter. SG Americas Securities LLC now owns 1,090,930 shares of the company’s stock valued at $25,550,000 after buying an additional 1,515,591 shares in the last quarter. 21.09% of the stock is currently 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.