XPeng (NYSE:XPEV) Shares Gap Down – Should You Sell?

XPeng Inc. (NYSE:XPEV) shares gapped down before the market opened on Friday . The stock had previously closed at $22.26, but opened at $20.59. XPeng shares last traded at $20.77, with a volume of 3,637,120 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on XPEV. Citigroup decreased their price objective on XPeng from $14.60 to $13.70 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Sanford C. Bernstein boosted their price target on shares of XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. China Renaissance upgraded shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price objective on the stock in a research note on Friday, November 22nd. UBS Group raised shares of XPeng from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $8.80 to $18.00 in a research note on Monday. Finally, Macquarie restated a “neutral” rating and set a $18.00 target price on shares of XPeng in a report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.93.

XPeng Trading Down 3.4 %

The company’s 50 day simple moving average is $14.89 and its two-hundred day simple moving average is $12.27. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $20.26 billion, a price-to-earnings ratio of -24.72 and a beta of 2.77.

Institutional Trading of XPeng

Institutional investors have recently made changes to their positions in the business. Creative Planning increased its position in XPeng by 20.3% during the 3rd quarter. Creative Planning now owns 39,725 shares of the company’s stock valued at $484,000 after buying an additional 6,704 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of XPeng during the third quarter worth about $45,000. 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 valued at $1,450,000 after acquiring an additional 4,706 shares in the last quarter. US Bancorp DE raised its position in shares of XPeng by 6.3% in the 3rd quarter. US Bancorp DE now owns 73,957 shares of the company’s stock valued at $901,000 after purchasing an additional 4,412 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of XPeng by 4.8% in the 3rd quarter. Van ECK Associates Corp now owns 222,337 shares of the company’s stock valued at $2,481,000 after purchasing an additional 10,148 shares during the last quarter. Institutional investors and hedge funds own 21.09% 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.