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

Li Auto Inc. (NASDAQ:LI)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $24.44, but opened at $25.51. Li Auto shares last traded at $26.00, with a volume of 2,947,401 shares.

Analyst Upgrades and Downgrades

LI has been the subject of a number of research reports. Citigroup raised their target price on Li Auto from $25.50 to $29.60 and gave the company a “neutral” rating in a research note on Monday, September 30th. Barclays raised their price objective on shares of Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Finally, Macquarie reiterated a “neutral” rating and set a $33.00 target price (up from $25.00) on shares of Li Auto in a research report on Friday, October 4th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.94.

Li Auto Stock Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.64 and a current ratio of 1.76. The company has a market cap of $27.05 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 2.13 and a beta of 0.94. The firm’s 50-day moving average price is $24.06 and its 200 day moving average price is $22.12.

Institutional Trading of Li Auto

A number of institutional investors have recently bought and sold shares of the business. Aspex Management HK Ltd increased its stake in shares of Li Auto by 55.0% in the 3rd quarter. Aspex Management HK Ltd now owns 10,643,926 shares of the company’s stock valued at $273,017,000 after acquiring an additional 3,778,463 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Li Auto by 2,556.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,630,537 shares of the company’s stock valued at $93,503,000 after purchasing an additional 3,493,881 shares during the period. FMR LLC increased 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 purchasing an additional 3,438,410 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Li Auto in the second quarter worth $21,626,000. Finally, Ariose Capital Management Ltd bought a new position in shares of Li Auto during the third quarter worth $18,099,000. 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.