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

Li Auto Inc. (NASDAQ:LI) gapped down before the market opened on Monday . The stock had previously closed at $23.68, but opened at $23.00. Li Auto shares last traded at $22.88, with a volume of 1,427,488 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LI. Bank of America increased their price target on Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. decreased 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. Citigroup raised their target price on Li Auto from $25.50 to $29.60 and gave the stock a “neutral” rating in a report on Monday, September 30th. Barclays raised their target price on Li Auto from $22.00 to $31.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $33.00 target price (up from $25.00) on shares of Li Auto in a report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.94.

Li Auto Trading Down 4.2 %

The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $25.36 and a 200 day simple moving average of $21.80. The firm has a market capitalization of $24.07 billion, a P/E ratio of 17.54, a PEG ratio of 2.27 and a beta of 0.99.

Institutional Investors Weigh In On Li Auto

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Aspex Management HK Ltd grew its position in shares of Li Auto by 55.0% during the third quarter. Aspex Management HK Ltd now owns 10,643,926 shares of the company’s stock valued at $273,017,000 after purchasing an additional 3,778,463 shares in the last quarter. FMR LLC grew its position in shares of 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. Mirae Asset Global Investments Co. Ltd. grew its position in shares of 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 valued at $93,503,000 after purchasing an additional 3,493,881 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Li Auto during the second quarter valued at about $21,626,000. Finally, American Century Companies Inc. grew its position in shares of Li Auto by 20.5% during the second quarter. American Century Companies Inc. now owns 726,684 shares of the company’s stock valued at $12,993,000 after purchasing an additional 123,838 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.