XPENG (NYSE:XPEV) Stock Price Down 4.1% After Analyst Downgrade

XPENG Inc. Sponsored ADR (NYSE:XPEV)’s share price dropped 4.1% during mid-day trading on Tuesday after JPMorgan Chase & Co. downgraded the stock from an overweight rating to a neutral rating. The stock traded as low as $9.47 and last traded at $9.5450. Approximately 4,182,416 shares traded hands during trading, a decline of 40% from the average session volume of 6,923,724 shares. The stock had previously closed at $9.95.

Several other research firms have also recently weighed in on XPEV. UBS Group started coverage on shares of XPENG in a research note on Wednesday, September 9th. They set a “neutral” rating and a $12.00 target price for the company. Barclays cut their price objective on XPENG from $15.00 to $14.00 and set an “underweight” rating for the company in a research report on Tuesday, August 25th. Finally, Weiss Ratings downgraded XPENG from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, September 10th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, XPENG presently has a consensus rating of “Hold” and a consensus target price of $23.65.

Institutional Trading of XPENG

Several institutional investors and hedge funds have recently made changes to their positions in XPEV. EverSource Wealth Advisors LLC grew its holdings in shares of XPENG by 45.0% in 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 last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of XPENG in the second quarter valued at approximately $81,000. TD Waterhouse Canada Inc. grew its position in shares of XPENG by 91.4% during the 2nd 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 in the last quarter. Parallel Advisors LLC increased its stake in shares of XPENG by 25.0% during the first quarter. Parallel Advisors LLC now owns 12,871 shares of the company’s stock valued at $220,000 after buying an additional 2,578 shares during the period. Finally, QRG Capital Management Inc. bought a new stake in shares of XPENG in the second quarter valued at about $187,000. 21.09% of the stock is currently owned by institutional investors.

XPENG Price Performance

The firm has a fifty day moving average of $11.51 and a two-hundred day moving average of $14.36. The stock has a market capitalization of $9.11 billion, a P/E ratio of -19.89 and a beta of 1.11. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.11 and a quick ratio of 0.86.

XPENG Company Profile

XPeng Inc (NYSE: XPEV) is a Chinese smart electric vehicle manufacturer that designs, develops, manufactures and markets battery-powered passenger vehicles. The company combines vehicle engineering with software, connectivity and advanced driver-assistance technologies to provide digitally integrated driving experiences.

XPeng’s product portfolio has included electric sedans, sport utility vehicles and multi-purpose vehicles, including the P7 sedan, G6 and G9 SUVs, and X9 MPV. Its technology offerings include the XNGP advanced driver-assistance system, in-vehicle operating systems and related smart-cockpit features.