Li Auto (NASDAQ:LI) Shares Gap Up – What’s Next?

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.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Citigroup increased 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. Macquarie reiterated a “neutral” rating and issued a $33.00 price target (up previously from $25.00) on shares of Li Auto in a research note on Friday, October 4th. Finally, 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 research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Li Auto presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.94.

Li Auto Trading Up 1.8 %

The business’s 50-day moving average price is $23.87 and its two-hundred day moving average price is $22.26. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.64. The company has a market capitalization of $25.94 billion, a price-to-earnings ratio of 18.11, a P/E/G ratio of 2.13 and a beta of 0.94.

Institutional Inflows and Outflows

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

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.