XPENG (NYSE:XPEV) Shares Gap Down – Should You Sell?

XPENG Inc. Sponsored ADR (NYSE:XPEV) shares gapped down before the market opened on Wednesday . The stock had previously closed at $21.28, but opened at $20.50. XPENG shares last traded at $19.9850, with a volume of 3,122,713 shares.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of XPENG in a report on Wednesday, October 8th. CLSA raised shares of XPENG to a “strong-buy” rating in a research report on Monday, September 22nd. Daiwa America upgraded shares of XPENG from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 18th. Morgan Stanley reaffirmed a “reduce” rating on shares of XPENG in a research note on Monday. Finally, Daiwa Capital Markets upgraded shares of XPENG from a “neutral” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Tuesday, November 18th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.37.

XPENG Stock Performance

The stock’s 50-day moving average price is $21.47 and its 200 day moving average price is $20.70. The company has a quick ratio of 0.95, a current ratio of 1.12 and a debt-to-equity ratio of 0.24. The company has a market cap of $19.02 billion, a P/E ratio of -47.68 and a beta of 1.05.

XPENG (NYSE:XPEV) last posted its earnings results on Monday, November 17th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.41. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $20.48 billion. XPENG had a negative net margin of 4.02% and a negative return on equity of 9.25%. As a group, research analysts expect that XPENG Inc. Sponsored ADR will post -0.96 EPS for the current fiscal year.

Institutional Trading of XPENG

Several hedge funds have recently added to or reduced their stakes in XPEV. Public Employees Retirement System of Ohio grew its stake in shares of XPENG by 32.6% in the second quarter. Public Employees Retirement System of Ohio now owns 135,518 shares of the company’s stock worth $2,423,000 after acquiring an additional 33,282 shares during the last quarter. Sender Co & Partners Inc. bought a new stake in XPENG in the 1st quarter valued at $360,000. Marshall Wace LLP boosted its holdings in XPENG by 228.7% in the 2nd quarter. Marshall Wace LLP now owns 1,639,403 shares of the company’s stock valued at $29,313,000 after purchasing an additional 1,140,593 shares during the period. Vident Advisory LLC grew its position in XPENG by 34.1% in the 1st quarter. Vident Advisory LLC now owns 71,919 shares of the company’s stock worth $1,490,000 after purchasing an additional 18,287 shares during the last quarter. Finally, Bayforest Capital Ltd increased its holdings in shares of XPENG by 145.5% during the 1st quarter. Bayforest Capital Ltd now owns 2,283 shares of the company’s stock worth $47,000 after purchasing an additional 1,353 shares during the period. Institutional investors own 21.09% of the company’s stock.

XPENG Company Profile

XPENG Inc (NYSE: XPEV) is a China-based developer and manufacturer of smart electric vehicles. The company designs, engineers and sells battery-electric sedans and sport-utility vehicles along with related software and services. Founded in 2014, XPENG positions itself as a technology-driven automaker with a focus on vehicle connectivity, software-defined features and advanced driver assistance systems.

Product offerings center on passenger EVs spanning compact crossovers and midsize sedans, supported by in-house software platforms and over-the-air update capabilities.