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

XPeng Inc. (NYSE:XPEV)’s share price gapped down before the market opened 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.

Wall Street Analysts Forecast Growth

XPEV has been the topic of several recent research reports. Macquarie initiated coverage on shares of XPeng in a report on Monday, April 15th. They set a “neutral” rating and a $7.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on shares of XPeng from $19.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, February 23rd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.48.

XPeng Stock Down 3.3 %

The firm has a market capitalization of $6.53 billion, a P/E ratio of -4.13 and a beta of 2.93. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.36 and a current ratio of 1.51. The business’s fifty day moving average price is $8.67 and its two-hundred day moving average price is $12.20.

XPeng (NYSE:XPEV) last released its quarterly earnings results on Tuesday, March 19th. The company reported ($0.21) earnings per share for the quarter. The firm had revenue of $1.84 billion during the quarter. XPeng had a negative net margin of 33.77% and a negative return on equity of 31.17%. Equities analysts expect that XPeng Inc. will post -1.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On XPeng

Several hedge funds and other institutional investors have recently modified their holdings of the stock. XY Capital Ltd raised its position in XPeng by 554.5% during the 3rd quarter. XY Capital Ltd now owns 327,229 shares of the company’s stock worth $6,008,000 after buying an additional 277,229 shares during the last quarter. NINE MASTS CAPITAL Ltd raised its position in XPeng by 1,765.6% during the 3rd quarter. NINE MASTS CAPITAL Ltd now owns 342,665 shares of the company’s stock worth $6,122,000 after buying an additional 324,297 shares during the last quarter. RWC Asset Management LLP purchased a new position in XPeng during the 3rd quarter worth approximately $8,291,000. Ballentine Partners LLC raised its position in XPeng by 14.6% during the 4th quarter. Ballentine Partners LLC now owns 13,557 shares of the company’s stock worth $198,000 after buying an additional 1,729 shares during the last quarter. Finally, Mariner LLC raised its position in XPeng by 37.5% during the 3rd quarter. Mariner LLC now owns 25,141 shares of the company’s stock worth $462,000 after buying an additional 6,858 shares during the last quarter. 23.05% of the stock is owned by hedge funds and other institutional investors.

XPeng Company Profile

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.