XPENG (NYSE:XPEV) Stock Price Down 4.6% – Here’s Why

XPENG Inc. Sponsored ADR (NYSE:XPEV) dropped 4.6% during mid-day trading on Monday . The stock traded as low as $12.28 and last traded at $12.4040. 3,139,812 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 6,780,198 shares. The stock had previously closed at $13.00.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of XPENG from a “hold” rating to a “sell” rating in a research note on Sunday, May 24th. Bank of America reaffirmed a “buy” rating on shares of XPENG in a research note on Thursday, May 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of XPENG in a research note on Friday, July 17th. Jefferies Financial Group reaffirmed a “buy” rating and set a $25.20 target price on shares of XPENG in a report on Friday, May 29th. Finally, BNP Paribas Exane cut shares of XPENG from a “neutral” rating to an “underperform” rating in a research report on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $25.40.

XPENG Price Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 1.14 and a quick ratio of 0.89. The stock has a market cap of $11.83 billion, a P/E ratio of -36.45 and a beta of 1.12. The company’s 50 day simple moving average is $14.03 and its 200 day simple moving average is $16.40.

XPENG (NYSE:XPEV) last posted its earnings results on Thursday, May 28th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.16). The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. XPENG had a negative return on equity of 7.72% and a negative net margin of 3.09%. As a group, equities analysts forecast that XPENG Inc. Sponsored ADR will post -0.36 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its stake in XPENG by 6.0% in the fourth quarter. Parallel Advisors LLC now owns 10,293 shares of the company’s stock valued at $209,000 after acquiring an additional 584 shares during the period. Valeo Financial Advisors LLC increased its holdings in shares of XPENG by 0.3% in the second quarter. Valeo Financial Advisors LLC now owns 387,230 shares of the company’s stock worth $5,127,000 after acquiring an additional 1,052 shares in the last quarter. SBI Securities Co. Ltd. raised its position in shares of XPENG by 7.7% during the fourth quarter. SBI Securities Co. Ltd. now owns 16,535 shares of the company’s stock worth $335,000 after purchasing an additional 1,186 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of XPENG by 45.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,906 shares of the company’s stock worth $79,000 after purchasing an additional 1,212 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of XPENG by 161.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,562 shares of the company’s stock valued at $52,000 after purchasing an additional 1,582 shares in the last quarter. 21.09% of the stock is currently owned by institutional investors.

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.