Li Auto (NASDAQ:LI) Shares Gap Down to $19.58

Li Auto Inc. (NASDAQ:LI)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $19.58, but opened at $19.12. Li Auto shares last traded at $18.80, with a volume of 888,938 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LI. Morgan Stanley lowered their price target on Li Auto from $65.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 21st. Bank of America boosted their target price on Li Auto from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. reduced their price target on shares of Li Auto from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Citigroup cut shares of Li Auto from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 4th. Finally, Barclays decreased their target price on shares of Li Auto from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 21st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.36.

Li Auto Price Performance

The stock has a market cap of $20.29 billion, a PE ratio of 12.75, a P/E/G ratio of 1.78 and a beta of 0.96. The company has a current ratio of 1.76, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $19.76 and a two-hundred day simple moving average of $24.43.

Hedge Funds Weigh In On Li Auto

Several large investors have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Li Auto by 58.7% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company’s stock valued at $28,000 after buying an additional 573 shares during the last quarter. Corient Private Wealth LLC boosted its stake in Li Auto by 5.3% during the 4th quarter. Corient Private Wealth LLC now owns 12,664 shares of the company’s stock valued at $474,000 after purchasing an additional 641 shares during the last quarter. SG Americas Securities LLC boosted its stake in Li Auto by 7.0% during the 1st quarter. SG Americas Securities LLC now owns 10,427 shares of the company’s stock valued at $316,000 after purchasing an additional 685 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Li Auto by 7.6% in the 4th quarter. Quadrant Capital Group LLC now owns 10,497 shares of the company’s stock worth $393,000 after purchasing an additional 745 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of Li Auto by 2.6% in the second quarter. China Universal Asset Management Co. Ltd. now owns 31,000 shares of the company’s stock worth $554,000 after purchasing an additional 800 shares during 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.