XPENG (NYSE:XPEV) Trading Down 4.4% – Here’s What Happened

XPENG Inc. Sponsored ADR (NYSE:XPEV) shares dropped 4.4% during mid-day trading on Tuesday . The stock traded as low as $19.17 and last traded at $19.2050. Approximately 6,564,566 shares changed hands during trading, a decline of 2% from the average daily volume of 6,724,192 shares. The stock had previously closed at $20.09.

Wall Street Analyst Weigh In

A number of analysts recently commented on XPEV shares. Morgan Stanley reiterated a “reduce” rating on shares of XPENG in a report on Monday, December 29th. Citigroup reaffirmed a “buy” rating on shares of XPENG in a research note on Friday, February 6th. Loop Capital set a $25.00 price target on shares of XPENG in a research note on Tuesday, January 6th. Macquarie Infrastructure set a $26.00 price objective on XPENG and gave the company an “outperform” rating in a research report on Thursday, January 15th. Finally, Barclays set a $17.00 target price on XPENG in a research report on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, XPENG presently has an average rating of “Hold” and an average target price of $24.84.

XPENG Stock Up 2.1%

The stock’s 50 day simple moving average is $18.57 and its two-hundred day simple moving average is $20.47. The firm has a market cap of $18.18 billion, a P/E ratio of -45.62, a P/E/G ratio of 19.90 and a beta of 1.21. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.12 and a quick ratio of 0.95.

Institutional Investors Weigh In On XPENG

Hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP increased its holdings in shares of XPENG by 228.7% during the second quarter. Marshall Wace LLP now owns 1,639,403 shares of the company’s stock valued at $29,313,000 after acquiring an additional 1,140,593 shares in the last quarter. SG Americas Securities LLC boosted its stake in XPENG by 7.1% in the 4th quarter. SG Americas Securities LLC now owns 1,168,406 shares of the company’s stock worth $23,695,000 after purchasing an additional 77,476 shares in the last quarter. Ameriprise Financial Inc. grew its position in XPENG by 29.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 127,533 shares of the company’s stock valued at $2,280,000 after purchasing an additional 28,983 shares during the last quarter. DNB Asset Management AS bought a new stake in XPENG during the 4th quarter valued at about $2,325,000. Finally, Ethic Inc. lifted its stake in shares of XPENG by 6.1% in the fourth quarter. Ethic Inc. now owns 78,380 shares of the company’s stock worth $1,590,000 after buying an additional 4,493 shares in the last quarter. 21.09% of the stock is owned by institutional investors.

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.