Li Auto (NASDAQ:LI) Shares Gap Up – Should You Buy?

Li Auto Inc. (NASDAQ:LI)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $22.88, but opened at $24.10. Li Auto shares last traded at $24.50, with a volume of 1,797,626 shares trading hands.

Analysts Set New Price Targets

Separately, Barclays boosted their target price on Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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 market capitalization of $24.80 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.31 and a beta of 0.92. The company has a 50 day moving average price of $23.27 and a 200 day moving average price of $22.88.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in Li Auto during the third quarter worth approximately $39,000. Venturi Wealth Management LLC acquired a new stake in shares of Li Auto during the 3rd quarter worth $50,000. BNP Paribas increased its position in shares of Li Auto by 300.0% in the third quarter. BNP Paribas now owns 2,000 shares of the company’s stock worth $51,000 after purchasing an additional 1,500 shares during the period. Avior Wealth Management LLC increased its position in shares of Li Auto by 708.5% in the third quarter. Avior Wealth Management LLC now owns 2,385 shares of the company’s stock worth $61,000 after purchasing an additional 2,090 shares during the period. Finally, Blue Trust Inc. raised its stake in Li Auto by 55.9% in the third 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. 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.