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

Shares of Li Auto Inc. (NASDAQ:LI) gapped up before the market opened on Friday . The stock had previously closed at $24.02, but opened at $24.82. Li Auto shares last traded at $24.47, with a volume of 646,796 shares.

Analyst Ratings Changes

LI has been the subject of several recent research reports. Macquarie reissued a “neutral” rating and issued a $33.00 price objective (up previously from $25.00) on shares of Li Auto in a report on Friday, October 4th. Barclays lifted their target price on shares of Li Auto from $22.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Finally, Citigroup raised 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. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $33.94.

Li Auto Stock Performance

The stock has a market capitalization of $26.26 billion, a P/E ratio of 18.33, a PEG ratio of 2.13 and a beta of 0.94. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $23.79 and a two-hundred day moving average price of $22.33.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Aspex Management HK Ltd grew its holdings in shares of Li Auto by 55.0% during the third quarter. Aspex Management HK Ltd now owns 10,643,926 shares of the company’s stock worth $273,017,000 after purchasing an additional 3,778,463 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position 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 last quarter. FMR LLC grew its stake in Li Auto by 422.4% in the 3rd quarter. FMR LLC now owns 4,252,398 shares of the company’s stock worth $109,074,000 after buying an additional 3,438,410 shares in the last quarter. Ariose Capital Management Ltd bought a new position in shares of Li Auto in the 3rd quarter worth $18,099,000. Finally, Barclays PLC raised its position in shares of Li Auto by 41.8% during the 3rd quarter. Barclays PLC now owns 602,028 shares of the company’s stock valued at $15,442,000 after buying an additional 177,414 shares in the last quarter. 9.88% of the stock is currently owned by hedge funds and other institutional investors.

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.