Li Auto (NASDAQ:LI) Shares Gap Up – Time to Buy?

Shares of Li Auto Inc. (NASDAQ:LI) gapped up prior to trading on Monday . The stock had previously closed at $22.32, but opened at $23.96. Li Auto shares last traded at $24.05, with a volume of 11,073,794 shares trading hands.

Analysts Set New Price Targets

Several research firms recently commented on LI. Macquarie reiterated a “neutral” rating and issued a $33.00 price objective (up from $25.00) on shares of Li Auto in a report on Friday, October 4th. Barclays lifted their price objective on Li Auto from $22.00 to $31.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Citigroup boosted their price target on Li Auto from $25.50 to $29.60 and gave the company a “neutral” rating in a research note 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 company a “buy” rating in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Li Auto from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.94.

Li Auto Price Performance

The firm’s fifty day moving average is $25.04 and its 200 day moving average is $21.84. The company has a market capitalization of $24.20 billion, a P/E ratio of 16.95, a P/E/G ratio of 2.14 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.64 and a current ratio of 1.76.

Institutional Trading of Li Auto

Several institutional investors and hedge funds have recently modified their holdings of LI. Aspex Management HK Ltd grew its stake in Li Auto by 55.0% in the third quarter. Aspex Management HK Ltd now owns 10,643,926 shares of the company’s stock valued at $273,017,000 after purchasing an additional 3,778,463 shares during the last quarter. FMR LLC boosted its stake in Li Auto by 422.4% in the third quarter. FMR LLC now owns 4,252,398 shares of the company’s stock valued at $109,074,000 after acquiring an additional 3,438,410 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Li Auto by 2,556.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,630,537 shares of the company’s stock worth $93,503,000 after purchasing an additional 3,493,881 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Li Auto during the second quarter worth $21,626,000. Finally, American Century Companies Inc. lifted its holdings in shares of 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. Institutional investors 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.