The stock of XPeng Inc. (NYSE:XPEV) is now priced at $20.5 and the shares are -2.29 points down or -10.05% lower compared to its previous closing price of $22.79. The stock had 20.528 million contracts set over the past session. XPEV shares’ daily volume is compared to its average trading volume at 63.48 million shares. However, it has a float of 42.5 million and although its performance was 0% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the XPEV share price recently placing at $20.33 to $22.79. However, some brokerage firms have priced the stock below the average.
The shorts are running away from the XPeng Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the XPEV shares have declined. Short interest in the stock represents just 0% of its float, but the volume has dropped by 0.
The technical chart shows that the XPEV stock will likely settle at between $22.08 and $23.67 per share. However, if the stock dips below $19.62, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $18.75.
Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
The stocks P/S ratio currently stands below the group’s average of 63.8. XPeng Inc. has its P/E ratio at 33.2, which means that the stock is currently trading at a premium relative to the 2.4 industry average.