Li Auto (NASDAQ:LI) Shares Gap Up – Here’s What Happened

Li Auto Inc. (NASDAQ:LI) gapped up before the market opened on Tuesday . The stock had previously closed at $22.59, but opened at $23.62. Li Auto shares last traded at $23.41, with a volume of 1,246,497 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LI shares. Citigroup upped their price target 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. Macquarie reaffirmed a “neutral” rating and issued a $33.00 target price (up previously from $25.00) on shares of Li Auto in a report on Friday, October 4th. Finally, Barclays lifted their price target on Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $33.94.

Li Auto Stock Performance

The firm has a market capitalization of $24.00 billion, a P/E ratio of 16.76, a price-to-earnings-growth ratio of 1.33 and a beta of 0.93. The company has a 50-day moving average of $23.11 and a 200-day moving average of $22.67. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13.

Institutional Trading of Li Auto

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LI. Allspring Global Investments Holdings LLC bought a new position in shares of Li Auto in the 3rd quarter worth about $39,000. Venturi Wealth Management LLC acquired a new stake in Li Auto during the third quarter worth approximately $50,000. BNP Paribas grew its stake in Li Auto by 300.0% during the third quarter. BNP Paribas now owns 2,000 shares of the company’s stock worth $51,000 after purchasing an additional 1,500 shares during the period. Avior Wealth Management LLC increased its holdings in Li Auto by 708.5% in the third quarter. Avior Wealth Management LLC now owns 2,385 shares of the company’s stock worth $61,000 after purchasing an additional 2,090 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Li Auto by 55.9% in the third quarter. Blue Trust Inc. now owns 3,043 shares of the company’s stock valued at $78,000 after buying an additional 1,091 shares during the period. Institutional investors and hedge funds own 9.88% of the company’s stock.

Li Auto Company Profile

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.