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

Li Auto Inc. (NASDAQ:LI) shares gapped up prior to trading on Tuesday . The stock had previously closed at $22.59, but opened at $23.62. Li Auto shares last traded at $23.41, with a volume of 1,246,497 shares traded.

Analyst Ratings Changes

A number of research firms recently commented on LI. Macquarie reaffirmed a “neutral” rating and set a $33.00 price target (up from $25.00) on shares of Li Auto in a research note on Friday, October 4th. Barclays upped their price target on shares of Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, Citigroup boosted their target price on shares of Li Auto from $25.50 to $29.60 and gave the company a “neutral” rating in a research report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Li Auto has an average rating of “Hold” and a consensus price target of $33.94.

Li Auto Trading Up 5.4 %

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 company has a 50-day moving average price of $23.08 and a 200-day moving average price of $22.65. The company has a market capitalization of $25.27 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 1.27 and a beta of 0.93.

Institutional Trading of Li Auto

A number of institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. grew its holdings 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 worth $78,000 after purchasing an additional 1,091 shares during the last quarter. BNP Paribas boosted 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 buying an additional 1,500 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Li Auto during the third quarter worth about $39,000. Venturi Wealth Management LLC bought a new stake in Li Auto during the 3rd quarter worth approximately $50,000. Finally, Avior Wealth Management LLC increased its holdings in Li Auto by 708.5% during the 3rd 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. 9.88% of the stock is currently owned by 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.