XPENG (NYSE:XPEV) Shares Gap Down – Here’s Why

XPENG Inc. Sponsored ADR (NYSE:XPEV)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $21.28, but opened at $20.50. XPENG shares last traded at $19.9850, with a volume of 3,122,713 shares.

Wall Street Analyst Weigh In

Several research firms recently commented on XPEV. Daiwa Capital Markets raised shares of XPENG from a “neutral” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Tuesday, November 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of XPENG in a research report on Wednesday, October 8th. CLSA raised XPENG to a “strong-buy” rating in a research note on Monday, September 22nd. Daiwa America raised XPENG from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. Finally, Morgan Stanley reaffirmed a “reduce” rating on shares of XPENG in a report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.37.

XPENG Trading Down 5.8%

The firm has a market cap of $19.02 billion, a price-to-earnings ratio of -47.68 and a beta of 1.05. The company has a quick ratio of 0.95, a current ratio of 1.12 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $21.47 and a 200 day moving average price of $20.70.

XPENG (NYSE:XPEV) last announced its quarterly earnings data on Monday, November 17th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.41. XPENG had a negative return on equity of 9.25% and a negative net margin of 4.02%.The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $20.48 billion. As a group, research analysts anticipate that XPENG Inc. Sponsored ADR will post -0.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in XPEV. Bayforest Capital Ltd lifted its position in XPENG by 145.5% in the 1st quarter. Bayforest Capital Ltd now owns 2,283 shares of the company’s stock worth $47,000 after buying an additional 1,353 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of XPENG by 16.9% in the third quarter. EverSource Wealth Advisors LLC now owns 2,694 shares of the company’s stock worth $63,000 after acquiring an additional 389 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of XPENG by 11.0% during the third quarter. Parallel Advisors LLC now owns 9,709 shares of the company’s stock worth $227,000 after acquiring an additional 964 shares in the last quarter. FNY Investment Advisers LLC boosted its position in XPENG by 18,967.9% during the second quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock valued at $178,000 after purchasing an additional 10,053 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in XPENG in the third quarter valued at about $249,000. Institutional investors and hedge funds own 21.09% of the company’s stock.

XPENG Company Profile

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.