XPENG (NYSE:XPEV) Trading Down 7.6% – Here’s Why

XPENG Inc. Sponsored ADR (NYSE:XPEV)’s share price fell 7.6% during mid-day trading on Thursday . The company traded as low as $17.50 and last traded at $17.4250. 3,463,132 shares were traded during trading, a decline of 49% from the average session volume of 6,809,236 shares. The stock had previously closed at $18.86.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Barclays dropped their price target on shares of XPENG from $17.00 to $16.00 and set an “underweight” rating on the stock in a research report on Tuesday. Macquarie Infrastructure set a $26.00 target price on shares of XPENG and gave the company an “outperform” rating in a research note on Thursday, January 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of XPENG in a report on Wednesday, January 21st. Loop Capital set a $25.00 target price on shares of XPENG in a research report on Tuesday, January 6th. Finally, Morgan Stanley restated a “reduce” rating on shares of XPENG in a report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, XPENG presently has a consensus rating of “Hold” and a consensus price target of $24.74.

XPENG Trading Down 7.0%

The company has a market capitalization of $16.65 billion, a P/E ratio of -102.91 and a beta of 1.21. The company has a 50-day simple moving average of $18.36 and a 200 day simple moving average of $20.41. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 1.09.

XPENG (NYSE:XPEV) last posted its quarterly earnings data on Friday, March 20th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.07. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.10 billion. XPENG had a negative return on equity of 3.69% and a negative net margin of 1.46%. Sell-side analysts expect that XPENG Inc. Sponsored ADR will post -0.96 earnings per share for the current year.

Institutional Trading of XPENG

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC grew its position in XPENG by 161.4% in the 4th quarter. Farther Finance Advisors LLC now owns 2,562 shares of the company’s stock worth $52,000 after purchasing an additional 1,582 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of XPENG by 16.9% during the third quarter. EverSource Wealth Advisors LLC now owns 2,694 shares of the company’s stock valued at $63,000 after buying an additional 389 shares during the last quarter. Parallel Advisors LLC lifted its stake 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 buying an additional 964 shares during the period. Kickstand Ventures LLC. bought a new stake in shares of XPENG in the fourth quarter valued at about $202,000. Finally, Venturi Wealth Management LLC acquired a new stake in XPENG during the third quarter worth about $249,000. 21.09% of the stock is currently owned by institutional investors and hedge funds.

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.