XPeng (NYSE:XPEV) Shares Down 5.6% - Here's Why

Shares of XPeng Inc. (NYSE:XPEV) experienced a decline of 5.6% during midday trading on Monday. The stock reached a low of $20.07 before last trading at $20.30. During the trading session, approximately 5,102,595 shares changed hands, marking a 55% decrease from the average volume of 11,404,610 shares. The previous closing price was $21.49.

Wall Street Analyst Insights

Several financial institutions have expressed their views on XPeng. UBS Group upgraded XPeng from a "sell" rating to a "neutral" rating, increasing the price target from $8.80 to $18.00 in a report on February 24. Conversely, Goldman Sachs downgraded XPeng from a "buy" to a "neutral" rating, setting a price target of $12.50 in a research note dated November 21. China Renaissance also upgraded XPeng from a "hold" to a "buy" rating, with a new price target of $16.70 as of November 22. Macquarie maintained a "neutral" rating and a target price of $18.00. Meanwhile, Citigroup lowered its target from $14.60 to $13.70 while keeping a "neutral" rating as of November 20. Currently, the stock has five analysts rating it as a hold, four as a buy, and one as a strong buy. According to MarketBeat.com, the stock carries an average rating of "Moderate Buy" with an average target price of $13.93.

Stock Performance Overview

XPeng's current trading metrics show a 50-day moving average of $15.54 and a 200-day moving average of $12.70. The company's market capitalization stands at $20.40 billion, with a P/E ratio of -24.89 and a beta of 2.68. Additionally, XPeng has a debt-to-equity ratio of 0.22, a current ratio of 1.37, and a quick ratio of 1.18.

Institutional Investments in XPeng

Recently, several institutional investors have adjusted their positions in XPeng. EverSource Wealth Advisors LLC increased its stake by 55.8% in the fourth quarter, now holding 2,508 shares valued at $30,000 after acquiring an additional 898 shares. Similarly, Avior Wealth Management LLC raised its position in XPeng by an impressive 1,215.2%, owning 2,775 shares worth $33,000 after a further purchase of 2,564 shares. Lindbrook Capital LLC also grew its holdings by 50.7%, with 3,382 shares valued at $40,000 after buying an additional 1,138 shares. Golden State Wealth Management LLC and Natixis also made new investments during the fourth quarter, valued at $41,000 and $43,000, respectively. Currently, institutional investors hold approximately 21.09% of XPeng's stock.

Company Overview

XPeng Inc. is engaged in designing, developing, manufacturing, and marketing smart electric vehicles (EVs) in China. The company’s product lineup includes SUVs like the G3, G3i, and G9, along with four-door sports sedans known as the P7 and P7i, and family sedans branded as the P5. Besides vehicle sales, XPeng offers an array of services, including supercharging, maintenance, technical support, auto financing, insurance, ride-hailing, and leasing services.

This article presents a neutral overview of XPeng’s stock performance and changes in institutional holdings.

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