It was a rough Tuesday morning for XPeng Inc. (XPEV) shareholders. The Chinese electric vehicle maker's stock tumbled in premarket trading, hitting a fresh 52-week low. The trigger? Some pretty grim delivery numbers for February.

The company disclosed on Monday that it handed over just 15,256 vehicles last month. That's a punishing 49.90% decline compared to February last year and a 23.76% drop from January's figures. Ouch.

It wasn't all bad news in February, though. XPeng did manage to notch one positive milestone: the launch of global deliveries for its new P7+ sedan. But that silver lining wasn't enough to offset the dark cloud of the overall delivery slump.

Macro Headwinds Compound the Pressure

To make matters worse, XPeng wasn't falling alone. The broader market was looking shaky too, with Nasdaq futures down 2.40% and S&P 500 futures off 1.86% heading into Tuesday's open. When the tide goes out, it can be especially rough for boats that are already taking on water.

Technical Analysis

Looking at the charts, XPeng has had a tough year, with the stock down about 16.10% over the past 12 months. The technical picture isn't pretty right now either. The stock is trading 9.2% below its 20-day simple moving average and 21.8% below its 100-day SMA, which suggests a bearish trend in both the short and medium term.

Perhaps most concerning for investors: the stock was flirting with its 52-week low of $16.13 during premarket trading, suggesting it's testing some critical support levels. If that level breaks, well, let's just say it could get even bumpier.

Earnings & Analyst Outlook

All eyes now turn to the company's upcoming earnings report, scheduled for March 17. Here's what analysts are expecting:

• EPS Estimate: A loss of 20 cents (which is flat compared to the loss a year ago)
• Revenue Estimate: $3.32 billion (that's up from $2.21 billion year-over-year)

So the story analysts are telling is one of growing revenue but continued losses. Despite the recent weakness, the stock still carries a Buy rating from analysts, with an average price target of $21.78. That represents a significant potential upside from current levels—if the company can turn things around.

In Tuesday's premarket action, XPeng shares were down 5.53% at $16.05, according to market data, cementing that new 52-week low.