XPENG (NYSE:XPEV) Sets New 52-Week Low – Here’s Why

XPENG Inc. Sponsored ADR (NYSE:XPEV) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $10.96 and last traded at $11.0750, with a volume of 1068518 shares traded. The stock had previously closed at $11.17.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on XPEV. Barclays reduced their target price on XPENG from $15.00 to $14.00 and set an “underweight” rating for the company in a report on Tuesday, August 25th. Bank of America reissued a “buy” rating on shares of XPENG in a research note on Thursday, May 28th. Jefferies Financial Group restated a “buy” rating and set a $25.20 price objective on shares of XPENG in a report on Friday, May 29th. Wall Street Zen lowered shares of XPENG from a “hold” rating to a “sell” rating in a research note on Sunday, May 24th. Finally, JPMorgan Chase & Co. decreased their target price on shares of XPENG from $27.00 to $24.00 and set an “overweight” rating for the company in a report on Tuesday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $25.31.

XPENG Stock Down 1.2%

The business has a fifty day moving average price of $12.49 and a two-hundred day moving average price of $15.30. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.50. The company has a market cap of $10.54 billion, a price-to-earnings ratio of -22.99 and a beta of 1.11.

Hedge Funds Weigh In On XPENG

Hedge funds have recently modified their holdings of the stock. DNB Asset Management AS purchased a new position in XPENG in the fourth quarter valued at about $2,325,000. Nykredit A S acquired a new stake in shares of XPENG during the 2nd quarter valued at about $825,000. Abacus Wealth Partners LLC bought a new stake in shares of XPENG in the 4th quarter valued at approximately $1,060,000. Ameriprise Financial Inc. increased its holdings in XPENG by 29.4% in the second quarter. Ameriprise Financial Inc. now owns 127,533 shares of the company’s stock worth $2,280,000 after buying an additional 28,983 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in XPENG by 66.3% in the first quarter. Venturi Wealth Management LLC now owns 16,481 shares of the company’s stock worth $282,000 after buying an additional 6,571 shares during the last quarter. 21.09% of the stock is owned by institutional investors and hedge funds.

About XPENG

XPENG Inc (NYSE: XPEV) is a China-based developer and manufacturer of smart electric vehicles. The company designs, engineers and sells battery-electric sedans and sport-utility vehicles along with related software and services. Founded in 2014, XPENG positions itself as a technology-driven automaker with a focus on vehicle connectivity, software-defined features and advanced driver assistance systems.

Product offerings center on passenger EVs spanning compact crossovers and midsize sedans, supported by in-house software platforms and over-the-air update capabilities.