XPeng (NYSE:XPEV) Stock Price Down 5.8% After Analyst Downgrade

Shares of XPeng Inc. (NYSE:XPEV) were down 5.8% during mid-day trading on Thursday after Daiwa America downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $22.22 and last traded at $22.43. Approximately 3,189,841 shares changed hands during trading, a decline of 76% from the average daily volume of 13,290,787 shares. The stock had previously closed at $23.80.

A number of other research firms have also recently commented on XPEV. Nomura upgraded XPeng from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $30.00 in a report on Wednesday. Nomura Securities upgraded XPeng to a “strong-buy” rating in a report on Tuesday. China Renaissance upgraded XPeng from a “hold” rating to a “buy” rating and set a $16.70 price target for the company in a report on Friday, November 22nd. Macquarie reiterated a “neutral” rating and set a $18.00 price target on shares of XPeng in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. reduced their price target on XPeng from $35.00 to $31.00 and set an “overweight” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, XPeng currently has an average rating of “Hold” and a consensus price target of $21.84.

Institutional Investors Weigh In On XPeng

Several hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. raised its position in shares of XPeng by 48.9% in the third quarter. Advisors Asset Management Inc. now owns 49,624 shares of the company’s stock valued at $604,000 after buying an additional 16,289 shares in the last quarter. Citigroup Inc. raised its position in shares of XPeng by 14.2% in the third quarter. Citigroup Inc. now owns 293,321 shares of the company’s stock valued at $3,573,000 after buying an additional 36,560 shares in the last quarter. FMR LLC raised its position in shares of XPeng by 1,053.8% in the third quarter. FMR LLC now owns 323,581 shares of the company’s stock valued at $3,941,000 after buying an additional 295,536 shares in the last quarter. Flow Traders U.S. LLC acquired a new stake in shares of XPeng in the third quarter valued at approximately $360,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of XPeng in the third quarter valued at approximately $22,047,000. 21.09% of the stock is currently owned by institutional investors and hedge funds.

XPeng Trading Down 1.2 %

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18. The business’s 50-day moving average price is $18.29 and its two-hundred day moving average price is $14.02. The company has a market capitalization of $20.54 billion, a price-to-earnings ratio of -25.06 and a beta of 2.68.

XPeng (NYSE:XPEV) last released its quarterly earnings results on Tuesday, March 18th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.36) by $1.17. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.92%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $16.11 billion. Research analysts predict that XPeng Inc. will post -0.96 earnings per share for the current year.

About XPeng

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.