XPeng (NYSE:XPEV) Stock Price Down 4.2%

XPeng Inc. (NYSE:XPEV)’s stock price fell 4.2% during mid-day trading on Thursday . The company traded as low as $7.05 and last traded at $7.11. 3,261,947 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 13,664,983 shares. The stock had previously closed at $7.42.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on XPEV. JPMorgan Chase & Co. dropped their price target on shares of XPeng from $19.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday, February 23rd. Macquarie started coverage on shares of XPeng in a report on Monday, April 15th. They issued a “neutral” rating and a $7.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, XPeng currently has an average rating of “Hold” and a consensus price target of $17.48.

XPeng Price Performance

The business’s fifty day simple moving average is $8.67 and its 200 day simple moving average is $12.24. The company has a quick ratio of 1.36, a current ratio of 1.51 and a debt-to-equity ratio of 0.18.

XPeng (NYSE:XPEV) last released its quarterly earnings results on Tuesday, March 19th. The company reported ($0.21) EPS for the quarter. The firm had revenue of $1.84 billion for the quarter. XPeng had a negative return on equity of 31.17% and a negative net margin of 33.77%. On average, analysts anticipate that XPeng Inc. will post -1.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On XPeng

Institutional investors have recently modified their holdings of the company. XY Capital Ltd grew its position in shares of XPeng by 554.5% during the third quarter. XY Capital Ltd now owns 327,229 shares of the company’s stock worth $6,008,000 after acquiring an additional 277,229 shares during the last quarter. NINE MASTS CAPITAL Ltd grew its position in shares of XPeng by 1,765.6% during the third quarter. NINE MASTS CAPITAL Ltd now owns 342,665 shares of the company’s stock worth $6,122,000 after acquiring an additional 324,297 shares during the last quarter. RWC Asset Management LLP bought a new position in shares of XPeng during the third quarter worth about $8,291,000. Ballentine Partners LLC grew its position in shares of XPeng by 14.6% during the fourth quarter. Ballentine Partners LLC now owns 13,557 shares of the company’s stock worth $198,000 after acquiring an additional 1,729 shares during the last quarter. Finally, Mariner LLC grew its position in shares of XPeng by 37.5% during the third quarter. Mariner LLC now owns 25,141 shares of the company’s stock worth $462,000 after acquiring an additional 6,858 shares during the last quarter. Institutional investors own 23.05% of the company’s stock.

About XPeng

XPeng Inc designs, develops, manufactures, and markets smart electric vehicles (EV) 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, maintenance, super charging, technical support, auto financing, insurance technology support, ride-hailing, automotive loan referral, and other services, as well as vehicle leasing and insurance agency services.