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

XPeng Inc. (NYSE:XPEV) gapped down prior to trading on Thursday . The stock had previously closed at $11.82, but opened at $11.57. XPeng shares last traded at $11.46, with a volume of 5,009,034 shares.

Analyst Upgrades and Downgrades

Several analysts have issued reports on XPEV shares. UBS Group reissued a “sell” rating and issued a $8.80 price target (up previously from $8.20) on shares of XPeng in a research note on Thursday, December 5th. Sanford C. Bernstein lifted their target price on XPeng from $9.00 to $14.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. The Goldman Sachs Group downgraded XPeng from a “buy” rating to a “neutral” rating and set a $12.50 price target for the company. in a research report on Thursday, November 21st. Citigroup lowered their price objective on shares of XPeng from $14.60 to $13.70 and set a “neutral” rating on the stock in a report on Wednesday, November 20th. Finally, China Renaissance upgraded shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 target price for the company in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, XPeng has an average rating of “Moderate Buy” and a consensus price target of $11.69.

XPeng Price Performance

The stock has a market capitalization of $11.03 billion, a P/E ratio of -13.46 and a beta of 2.76. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.37 and a quick ratio of 1.18. The company’s 50-day simple moving average is $12.55 and its 200-day simple moving average is $10.19.

Institutional Investors Weigh In On XPeng

A number of institutional investors and hedge funds have recently modified their holdings of XPEV. Primecap Management Co. CA lifted its holdings in XPeng by 5.6% during the 2nd quarter. Primecap Management Co. CA now owns 16,421,385 shares of the company’s stock valued at $120,369,000 after purchasing an additional 872,160 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of XPeng by 212.1% during the 2nd quarter. Bank of Montreal Can now owns 4,008,846 shares of the company’s stock worth $31,910,000 after buying an additional 2,724,549 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of XPeng during the 3rd quarter worth about $22,047,000. Point72 Europe London LLP bought a new stake in shares of XPeng during the 2nd quarter worth about $5,923,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in XPeng in the 3rd quarter valued at about $6,233,000. 21.09% of the stock is owned by institutional investors.

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.