XPeng (NYSE:XPEV) Trading Down 4% – Time to Sell?

XPeng Inc. (NYSE:XPEV) fell 4% during mid-day trading on Thursday . The stock traded as low as $10.68 and last traded at $10.71. 2,874,211 shares were traded during trading, a decline of 79% from the average session volume of 13,420,081 shares. The stock had previously closed at $11.16.

Analyst Upgrades and Downgrades

XPEV has been the subject of several research analyst reports. Citigroup dropped their price target on XPeng from $8.30 to $7.60 and set a “neutral” rating for the company in a research note on Wednesday, August 21st. Bank of America reduced their price target on XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Macquarie raised XPeng from a “neutral” rating to an “outperform” rating in a report on Friday, August 30th. Finally, JPMorgan Chase & Co. raised XPeng from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $8.00 to $11.50 in a report on Thursday, September 5th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, XPeng currently has an average rating of “Buy” and a consensus price target of $9.42.

XPeng Stock Up 6.3 %

The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.31 and a current ratio of 1.50. The company has a market cap of $10.48 billion, a P/E ratio of -7.52 and a beta of 2.79. The stock has a 50 day moving average price of $9.93 and a 200 day moving average price of $8.60.

XPeng (NYSE:XPEV) last released its quarterly earnings results on Tuesday, August 20th. The company reported ($0.19) earnings per share for the quarter. XPeng had a negative net margin of 21.64% and a negative return on equity of 23.38%. The company had revenue of $1.12 billion during the quarter. Research analysts expect that XPeng Inc. will post -0.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in XPEV. China Universal Asset Management Co. Ltd. boosted its position in shares of XPeng by 6.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 80,000 shares of the company’s stock valued at $974,000 after acquiring an additional 5,000 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of XPeng by 4.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 113,959 shares of the company’s stock worth $1,450,000 after buying an additional 4,706 shares in the last quarter. Ballentine Partners LLC boosted its stake in XPeng by 32.8% in the third quarter. Ballentine Partners LLC now owns 17,542 shares of the company’s stock worth $214,000 after purchasing an additional 4,335 shares in the last quarter. Greenleaf Trust grew its holdings in XPeng by 16.2% during the 3rd quarter. Greenleaf Trust now owns 16,068 shares of the company’s stock worth $196,000 after acquiring an additional 2,243 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in XPeng by 24.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,359 shares of the company’s stock worth $163,000 after purchasing an additional 2,609 shares during the last quarter. Institutional investors and hedge funds own 23.05% of the company’s stock.

XPeng Company Profile

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.