XPENG (NYSE:XPEV) Reaches New 1-Year Low – Here’s Why

XPENG Inc. Sponsored ADR (NYSE:XPEV)’s share price hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $9.02 and last traded at $9.1150, with a volume of 459,923 shares traded. The stock had previously closed at $9.36.

Analyst Ratings Changes

A number of research analysts recently issued reports on XPEV shares. Barclays cut 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. JPMorgan Chase & Co. lowered shares of XPENG from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $24.00 to $11.50 in a report on Tuesday, September 29th. Weiss Ratings cut XPENG from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, October 14th. Finally, UBS Group assumed coverage on shares of XPENG in a research note on Wednesday, September 9th. They set a “neutral” rating and a $12.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, XPENG currently has a consensus rating of “Hold” and an average price target of $22.09.

XPENG Stock Performance

The company has a market capitalization of $8.81 billion, a price-to-earnings ratio of -19.14 and a beta of 1.07. The stock’s 50 day moving average price is $10.52 and its 200 day moving average price is $13.29. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.50.

Institutional Trading of XPENG

A number of hedge funds have recently made changes to their positions in XPEV. Crossmark Global Holdings Inc. lifted its stake in shares of XPENG by 28.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 67,900 shares of the company’s stock worth $649,000 after buying an additional 14,842 shares during the last quarter. Quadrant Capital Group LLC increased its position in XPENG by 393.4% during the 3rd quarter. Quadrant Capital Group LLC now owns 93,100 shares of the company’s stock worth $908,000 after buying an additional 74,230 shares during the period. SteelPeak Wealth LLC acquired a new stake in shares of XPENG during the third quarter worth $213,000. TD Waterhouse Canada Inc. raised its stake in XPENG by 133.6% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 15,605 shares of the company’s stock worth $149,000 after purchasing an additional 8,925 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of XPENG by 57.5% in the third quarter. Farther Finance Advisors LLC now owns 4,850 shares of the company’s stock valued at $46,000 after buying an additional 1,771 shares in the last quarter. 21.09% of the stock is owned by institutional investors and hedge funds.

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.