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

Li Auto Inc. (NASDAQ:LI) 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 trading hands.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Citigroup increased their price objective on Li Auto from $25.50 to $29.60 and gave the stock a “neutral” rating in a research note on Monday, September 30th. Bank of America lifted their price target 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. Barclays raised their price objective on shares of Li Auto from $22.00 to $31.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. JPMorgan Chase & Co. reduced their target price on Li Auto from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Finally, Macquarie reaffirmed a “neutral” rating and set a $33.00 price target (up from $25.00) on shares of Li Auto in a report on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Li Auto currently has a consensus rating of “Moderate Buy” and an average target price of $33.94.

Li Auto Price Performance

The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average price of $24.03 and a two-hundred day moving average price of $22.06. The firm has a market cap of $27.25 billion, a P/E ratio of 19.02, a PEG ratio of 2.13 and a beta of 0.94.

Institutional Investors Weigh In On Li Auto

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. American Century Companies Inc. lifted 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 worth $12,993,000 after buying an additional 123,838 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised 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 worth $93,503,000 after acquiring an additional 3,493,881 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Li Auto by 27.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 432,988 shares of the company’s stock valued at $11,106,000 after purchasing an additional 93,904 shares in the last quarter. Ariose Capital Management Ltd acquired a new position in shares of Li Auto during the 3rd quarter worth approximately $18,099,000. Finally, Barclays PLC boosted its holdings in shares of Li Auto by 41.8% in 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 during the last quarter. Institutional investors and hedge funds own 9.88% of the company’s stock.

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.