XPENG (NYSE:XPEV) Hits New 12-Month Low – Here’s What Happened

XPENG Inc. Sponsored ADR (NYSE:XPEV) shares reached a new 52-week low during mid-day trading on Friday. The stock traded as low as $8.95 and last traded at $9.1030, with a volume of 863,308 shares trading hands. The stock had previously closed at $9.18.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on XPEV shares. Weiss Ratings lowered shares of XPENG from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, October 14th. UBS Group assumed coverage on XPENG in a research report on Wednesday, September 9th. They set a “neutral” rating and a $12.00 price objective on the stock. The Goldman Sachs Group set a $16.00 target price on shares of XPENG in a research note on Friday, October 23rd. JPMorgan Chase & Co. reduced their price target on shares of XPENG from $11.50 to $10.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Barclays reduced their price target on XPENG from $15.00 to $14.00 and set an “underweight” rating for the company in a report on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, XPENG has a consensus rating of “Hold” and a consensus target price of $21.24.

XPENG Price Performance

The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.50. The stock has a fifty day moving average of $10.21 and a 200-day moving average of $14.59. The stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of -18.91 and a beta of 1.07.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its position in XPENG by 57.5% during the third quarter. Farther Finance Advisors LLC now owns 4,850 shares of the company’s stock worth $46,000 after acquiring an additional 1,771 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of XPENG by 54.5% in the first quarter. EverSource Wealth Advisors LLC now owns 6,035 shares of the company’s stock valued at $103,000 after purchasing an additional 2,129 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in XPENG in the second quarter valued at $81,000. CX Institutional acquired a new position in XPENG in the third quarter worth $60,000. Finally, TD Waterhouse Canada Inc. increased its position in XPENG by 91.4% in the second quarter. TD Waterhouse Canada Inc. now owns 6,680 shares of the company’s stock worth $91,000 after buying an additional 3,190 shares during the period. 21.09% of the stock is owned by hedge funds and other institutional investors.

About XPENG

XPeng Inc is a China-based technology company focused on the design, development, manufacture and sale of smart electric vehicles. The company combines electric powertrain technology with software, connectivity and advanced driver-assistance features to develop vehicles intended for digitally connected and increasingly automated transportation.

XPeng’s product portfolio has included electric sedans, sport utility vehicles and multipurpose vehicles, such as the P7 sedan, P5 sedan, G6 and G9 SUVs, and X9 multipurpose vehicle.