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

Li Auto Inc. (NASDAQ:LI)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $27.35, but opened at $28.50. Li Auto shares last traded at $27.44, with a volume of 1,868,311 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on LI shares. HSBC set a $38.50 price target on Li Auto and gave the stock a “buy” rating in a research report on Thursday, March 6th. Macquarie lowered Li Auto from an “outperform” rating to a “neutral” rating and set a $27.00 price target on the stock. in a research report on Monday. Finally, JPMorgan Chase & Co. upgraded Li Auto from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $22.00 to $40.00 in a research report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.73.

Li Auto Trading Up 0.2 %

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 firm has a fifty day simple moving average of $25.60 and a two-hundred day simple moving average of $24.45. The firm has a market cap of $29.09 billion, a PE ratio of 20.24, a PEG ratio of 3.27 and a beta of 0.86.

Institutional Trading of Li Auto

Several large investors have recently modified their holdings of LI. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Li Auto in the third quarter worth $970,000. Avior Wealth Management LLC lifted its position in Li Auto by 708.5% during the third quarter. Avior Wealth Management LLC now owns 2,385 shares of the company’s stock valued at $61,000 after purchasing an additional 2,090 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Li Auto by 27.7% during 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. Advisors Asset Management Inc. lifted its position in Li Auto by 44.1% during the third quarter. Advisors Asset Management Inc. now owns 18,495 shares of the company’s stock valued at $474,000 after purchasing an additional 5,660 shares in the last quarter. Finally, FMR LLC lifted its position in Li Auto by 422.4% during 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. 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.