Why Did XPeng Stock Hit New 52-Week Low?

XPeng Inc. (NYSE:XPEV) tumbled in Tuesday’s premarket session after the Chinese electric vehicle maker disclosed Monday that it clocked a sharp deterioration in February delivery numbers.

Nasdaq futures are down 2.40% while S&P 500 futures have shed 1.86%.

The company handed over just 15,256 vehicles last month — a punishing 49.90% decline year-over-year and a 23.76% drop from January’s figures.

Despite the weak numbers, XPeng did notch one milestone in February: the launch of global deliveries for its new P7+ sedan.

Macro Headwinds Compound the Pressure

XPEV isn’t falling alone. Nasdaq futures were down 2.40% and S&P 500 futures had shed 1.86% heading into Tuesday’s open.

Technical Analysis

Over the past year, XPeng has seen a decline of 16.10% in its stock value. Currently, the stock is trading 9.2% below its 20-day SMA and 21.8% below its 100-day SMA, indicating a bearish trend in the short to medium term.

The stock is also near its 52-week low of $16.13, suggesting it is testing critical support levels.

Earnings & Analyst Outlook

XPeng is set to report earnings on March 17.

• EPS Estimate: Loss of 20 cents (Down from 20 cents YoY)
• Revenue Estimate: $3.32 Billion (Up from $2.21 Billion YoY)

The stock carries a Buy Rating with an average price target of $21.78.

XPEV Price Action: XPeng shares were down 5.53% at $16.05 during premarket trading on Tuesday. The stock is trading at a new 52-week low, according to Benzinga Pro data.

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