XPENG (NYSE:XPEV) Reaches New 52-Week Low – Here’s What Happened

XPENG Inc. Sponsored ADR (NYSE:XPEV) hit a new 52-week low on Friday. The stock traded as low as $10.15 and last traded at $10.1050, with a volume of 238247 shares trading hands. The stock had previously closed at $10.25.

Analysts Set New Price Targets

A number of research firms have issued reports on XPEV. Weiss Ratings downgraded XPENG from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, September 10th. Bank of America reissued a “buy” rating on shares of XPENG in a research note on Thursday, May 28th. Jefferies Financial Group restated a “buy” rating and issued a $25.20 target price on shares of XPENG in a report on Friday, May 29th. UBS Group assumed coverage on XPENG in a research report on Wednesday, September 9th. They set a “neutral” rating and a $12.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their price target on XPENG from $27.00 to $24.00 and set an “overweight” rating for the company in a report on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $23.65.

XPENG Price Performance

The company has a market capitalization of $9.69 billion, a P/E ratio of -21.16 and a beta of 1.11. The business’s 50-day moving average is $11.64 and its two-hundred day moving average is $14.48. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.50.

Hedge Funds Weigh In On XPENG

Hedge funds have recently modified their holdings of the company. QRG Capital Management Inc. purchased a new position in shares of XPENG in the 2nd quarter worth approximately $187,000. Altar Rock LLC purchased a new stake in shares of XPENG during the second quarter valued at approximately $196,000. Integrated Wealth Concepts LLC purchased a new stake in shares of XPENG during the second quarter valued at approximately $81,000. Nykredit A S bought a new stake in XPENG during the second quarter worth $825,000. Finally, TD Waterhouse Canada Inc. lifted its holdings in XPENG by 91.4% during the second quarter. TD Waterhouse Canada Inc. now owns 6,680 shares of the company’s stock worth $91,000 after acquiring an additional 3,190 shares during the period. Institutional investors own 21.09% of the company’s stock.

XPENG Company Profile

XPeng Inc (NYSE: XPEV) is a Chinese smart electric vehicle manufacturer that designs, develops, manufactures and markets battery-powered passenger vehicles. The company combines vehicle engineering with software, connectivity and advanced driver-assistance technologies to provide digitally integrated driving experiences.

XPeng’s product portfolio has included electric sedans, sport utility vehicles and multi-purpose vehicles, including the P7 sedan, G6 and G9 SUVs, and X9 MPV. Its technology offerings include the XNGP advanced driver-assistance system, in-vehicle operating systems and related smart-cockpit features.