XPeng (NYSE:XPEV) Shares Down 3.6% – Here’s Why

Shares of XPeng Inc. (NYSE:XPEV) fell 3.6% during trading on Friday . The company traded as low as $12.29 and last traded at $12.35. 1,397,065 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 13,557,773 shares. The stock had previously closed at $12.81.

Analyst Ratings Changes

A number of research analysts recently weighed in on XPEV shares. Sanford C. Bernstein raised their target price on shares of XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. upgraded XPeng from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $8.00 to $11.50 in a report on Thursday, September 5th. UBS Group restated a “sell” rating and issued a $8.80 price target (up from $8.20) on shares of XPeng in a research note on Thursday, December 5th. Macquarie upgraded XPeng from a “neutral” rating to an “outperform” rating in a research note on Friday, August 30th. Finally, The Goldman Sachs Group cut shares of XPeng from a “buy” rating to a “neutral” rating and set a $12.50 target price for the company. in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.69.

XPeng Stock Down 3.4 %

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.18 and a current ratio of 1.37. The firm’s fifty day moving average is $12.28 and its 200 day moving average is $9.70.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of XPeng by 122.4% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock valued at $39,000 after buying an additional 2,920 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of XPeng during the 3rd quarter worth $45,000. Blue Trust Inc. raised its stake in XPeng by 2,615.9% during the second quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock worth $75,000 after acquiring an additional 9,391 shares in the last quarter. 180 Wealth Advisors LLC bought a new position in XPeng in the 2nd quarter valued at approximately $78,000. Finally, Venturi Wealth Management LLC acquired a new position in XPeng in the 3rd quarter worth about $110,000. Institutional investors and hedge funds own 21.09% of the company’s stock.

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.