XPeng (NYSE:XPEV) Shares Gap Down to $7.17

XPeng Inc. (NYSE:XPEV)’s share price gapped down prior to trading on Friday . The stock had previously closed at $7.17, but opened at $6.99. XPeng shares last traded at $7.01, with a volume of 1,249,438 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. 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 report on Friday, February 23rd. Macquarie initiated coverage on shares of XPeng in a research note on Monday. They issued a “neutral” rating and a $7.00 price target for the company. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, XPeng currently has an average rating of “Hold” and a consensus target price of $17.48.

XPeng Stock Down 1.8 %

The company has a quick ratio of 1.36, a current ratio of 1.51 and a debt-to-equity ratio of 0.18. The stock’s fifty day simple moving average is $8.70 and its 200 day simple moving average is $12.31.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Ballentine Partners LLC grew its position in XPeng by 47.0% in the 1st quarter. Ballentine Partners LLC now owns 19,933 shares of the company’s stock valued at $153,000 after acquiring an additional 6,376 shares in the last quarter. Electron Capital Partners LLC purchased a new stake in XPeng in the fourth quarter valued at approximately $26,047,000. Virtu Financial LLC purchased a new stake in shares of XPeng during the fourth quarter worth approximately $943,000. Scarborough Advisors LLC purchased a new stake in shares of XPeng during the fourth quarter worth approximately $52,000. Finally, Twenty Acre Capital LP raised its stake in shares of XPeng by 40.3% during the fourth quarter. Twenty Acre Capital LP now owns 175,100 shares of the company’s stock worth $2,555,000 after purchasing an additional 50,300 shares during the last quarter. Hedge funds and other 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.