Li Auto (NASDAQ:LI) Shares Gap Down – What’s Next?

Li Auto Inc. (NASDAQ:LI)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $28.04, but opened at $26.51. Li Auto shares last traded at $26.92, with a volume of 2,558,827 shares.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on LI shares. Macquarie reaffirmed a “neutral” rating and issued a $33.00 target price (up from $25.00) on shares of Li Auto in a research note on Friday, October 4th. Citigroup lifted their price objective on shares of Li Auto from $25.50 to $29.60 and gave the stock a “neutral” rating in a report on Monday, September 30th. Bank of America upped their target price on shares of Li Auto from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. lowered their price target on Li Auto from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.66.

Li Auto Trading Down 3.8 %

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 1.76. The stock has a market capitalization of $28.51 billion, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 2.54 and a beta of 0.98. The stock has a 50-day moving average price of $21.79 and a two-hundred day moving average price of $22.78.

Li Auto (NASDAQ:LI) last posted its earnings results on Wednesday, August 28th. The company reported $0.14 EPS for the quarter. Li Auto had a net margin of 7.65% and a return on equity of 13.70%. The firm had revenue of $4.36 billion during the quarter. On average, research analysts forecast that Li Auto Inc. will post 1.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Li Auto during the second quarter valued at $21,626,000. Franchise Capital Ltd raised its position in shares of Li Auto by 163.2% in the 4th quarter. Franchise Capital Ltd now owns 975,250 shares of the company’s stock worth $36,504,000 after purchasing an additional 604,773 shares during the last quarter. SIH Partners LLLP boosted its stake in Li Auto by 508.2% in the 1st quarter. SIH Partners LLLP now owns 890,900 shares of the company’s stock worth $26,976,000 after purchasing an additional 744,419 shares in the last quarter. American Century Companies Inc. grew its position in Li Auto by 20.5% during the 2nd quarter. American Century Companies Inc. now owns 726,684 shares of the company’s stock valued at $12,993,000 after purchasing an additional 123,838 shares during the last quarter. Finally, FIFTHDELTA Ltd bought a new stake in Li Auto during the 1st quarter valued at about $14,816,000. 9.88% of the stock is owned by hedge funds and other institutional investors.

About Li Auto

Li Auto Inc operates in the energy vehicle market in the People's Republic of China. It designs, develops, manufactures, and sells premium smart electric vehicles. The company's product line comprises MPVs and sport utility vehicles. It offers sales and after sales management, and technology development and corporate management services, as well as purchases manufacturing equipment.