XPENG (NYSE:XPEV) Sets New 52-Week Low – What’s Next?

XPENG Inc. Sponsored ADR (NYSE:XPEV)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $15.51 and last traded at $15.4410, with a volume of 2201651 shares traded. The stock had previously closed at $16.99.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on XPEV. Citigroup reiterated a “buy” rating on shares of XPENG in a research report on Friday, February 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of XPENG in a research report on Wednesday, January 21st. Macquarie Infrastructure set a $26.00 price target on shares of XPENG and gave the stock an “outperform” rating in a report on Thursday, January 15th. Daiwa Securities Group upgraded shares of XPENG from a “neutral” rating to a “buy” rating and set a $29.00 target price on the stock in a research note on Tuesday, November 18th. Finally, Morgan Stanley restated a “reduce” rating on shares of XPENG in a research report on Monday, December 29th. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.78.

XPENG Trading Down 7.5%

The firm’s 50-day simple moving average is $19.01 and its 200-day simple moving average is $20.75. 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 firm has a market capitalization of $14.92 billion, a PE ratio of -37.43, a price-to-earnings-growth ratio of 18.24 and a beta of 1.21.

Institutional Investors Weigh In On XPENG

Several institutional investors have recently added to or reduced their stakes in XPEV. Royal Bank of Canada grew its position in shares of XPENG by 33.6% in the 1st quarter. Royal Bank of Canada now owns 23,657 shares of the company’s stock worth $490,000 after buying an additional 5,945 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in XPENG by 3.9% in the second quarter. SBI Securities Co. Ltd. now owns 17,613 shares of the company’s stock worth $315,000 after buying an additional 655 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of XPENG by 228.7% during the 2nd quarter. Marshall Wace LLP now owns 1,639,403 shares of the company’s stock worth $29,313,000 after acquiring an additional 1,140,593 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of XPENG by 29.4% in 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 period. Finally, Greenleaf Trust boosted its holdings in shares of XPENG by 4.7% during the 3rd quarter. Greenleaf Trust now owns 17,005 shares of the company’s stock valued at $398,000 after buying an additional 770 shares in the last quarter. Hedge funds and other institutional investors own 21.09% of the company’s stock.

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.