XPENG (NYSE:XPEV) Hits New 1-Year Low – What’s Next?

XPENG Inc. Sponsored ADR (NYSE:XPEV) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $10.70 and last traded at $10.7550, with a volume of 1064135 shares traded. The stock had previously closed at $10.93.

Analyst Ratings Changes

XPEV has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their price target on shares of XPENG from $27.00 to $24.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 25th. Bank of America reissued a “buy” rating on shares of XPENG in a report on Thursday, May 28th. Barclays reduced their target price on shares of XPENG from $15.00 to $14.00 and set an “underweight” rating for the company in a report on Tuesday, August 25th. Weiss Ratings upgraded XPENG from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 26th. Finally, Wall Street Zen lowered shares of XPENG from a “hold” rating to a “sell” rating in a research report on Sunday, May 24th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $23.65.

XPENG Trading Down 2.3%

The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $9.86 billion, a price-to-earnings ratio of -21.51 and a beta of 1.11. The company has a fifty day moving average of $12.22 and a 200-day moving average of $14.96.

Institutional Investors Weigh In On XPENG

A number of large investors have recently made changes to their positions in XPEV. Abacus Wealth Partners LLC purchased a new position in XPENG during the fourth quarter worth approximately $1,060,000. DNB Asset Management AS acquired a new stake in shares of XPENG in the 4th quarter worth $2,325,000. Nykredit A S purchased a new stake in shares of XPENG in the second quarter valued at about $825,000. TD Waterhouse Canada Inc. increased its position in XPENG by 91.4% during the second quarter. TD Waterhouse Canada Inc. now owns 6,680 shares of the company’s stock worth $91,000 after purchasing an additional 3,190 shares during the last quarter. Finally, Greenleaf Trust grew its stake in shares of XPENG by 18.3% in the 2nd quarter. Greenleaf Trust now owns 19,075 shares of the company’s stock valued at $253,000 after buying an additional 2,948 shares during the period. 21.09% of the stock is currently owned by hedge funds and other institutional investors.

XPENG Company Profile

XPeng Inc (NYSE: XPEV) is a Chinese smart electric vehicle manufacturer that designs, develops, manufactures and markets battery-powered passenger vehicles. The company combines vehicle engineering with software, connectivity and advanced driver-assistance technologies to provide digitally integrated driving experiences.

XPeng’s product portfolio has included electric sedans, sport utility vehicles and multi-purpose vehicles, including the P7 sedan, G6 and G9 SUVs, and X9 MPV. Its technology offerings include the XNGP advanced driver-assistance system, in-vehicle operating systems and related smart-cockpit features.