XPeng (NYSE:XPEV) Trading Down 6.8%

XPeng Inc. (NYSE:XPEV) traded down 6.8% during mid-day trading on Thursday . The company traded as low as $8.52 and last traded at $8.52. 2,089,202 shares were traded during trading, a decline of 84% from the average session volume of 12,924,422 shares. The stock had previously closed at $9.14.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Macquarie raised XPeng from a “neutral” rating to an “outperform” rating in a report on Friday, August 30th. Daiwa America raised XPeng to a “strong-buy” rating in a report on Thursday, May 23rd. Citigroup cut their price target on XPeng from $8.30 to $7.60 and set a “neutral” rating for the company in a report on Wednesday, August 21st. Bank of America cut their price target on XPeng from $11.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Finally, Daiwa Capital Markets raised XPeng from a “neutral” rating to a “buy” rating and set a $11.00 price target for the company in a report on Thursday, May 23rd. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, XPeng currently has an average rating of “Buy” and a consensus price target of $12.08.

XPeng Stock Performance

The stock has a 50-day moving average of $7.86 and a 200 day moving average of $8.11. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.31. The stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of -5.71 and a beta of 2.75.

Institutional Trading of XPeng

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XPEV. Natixis acquired a new position in shares of XPeng during the 1st quarter worth about $38,000. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of XPeng by 122.4% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,306 shares of the company’s stock worth $39,000 after buying an additional 2,920 shares during the period. Scarborough Advisors LLC acquired a new position in shares of XPeng during the 4th quarter worth about $52,000. Blue Trust Inc. grew its position in shares of XPeng by 2,615.9% during the 2nd quarter. Blue Trust Inc. now owns 9,750 shares of the company’s stock worth $75,000 after buying an additional 9,391 shares during the period. Finally, 180 Wealth Advisors LLC acquired a new position in shares of XPeng during the 2nd quarter worth about $78,000. 23.05% of the stock is currently owned by institutional investors and hedge funds.

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.