Li Auto (NASDAQ:LI) Shares Gap Down – Should You Sell?

Li Auto Inc. (NASDAQ:LI) gapped down prior to trading on Wednesday . The stock had previously closed at $23.79, but opened at $23.18. Li Auto shares last traded at $22.89, with a volume of 732,001 shares.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Barclays raised 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. Macquarie reaffirmed a “neutral” rating and issued a $33.00 target price (up from $25.00) on shares of Li Auto in a research report on Friday, October 4th. Finally, Citigroup lifted their price target 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $33.94.

Li Auto Stock Performance

The firm’s 50-day moving average price is $23.11 and its 200-day moving average price is $22.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.64. The stock has a market cap of $24.18 billion, a P/E ratio of 16.89, a PEG ratio of 1.27 and a beta of 0.93.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Aspex Management HK Ltd grew its stake in Li Auto by 55.0% during the 3rd 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 during the last quarter. FMR LLC increased its holdings in Li Auto by 422.4% in the 3rd quarter. FMR LLC now owns 4,252,398 shares of the company’s stock worth $109,074,000 after buying an additional 3,438,410 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Li Auto by 2,556.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,630,537 shares of the company’s stock worth $93,503,000 after buying an additional 3,493,881 shares during the last quarter. Ariose Capital Management Ltd acquired a new stake in Li Auto during the 3rd quarter valued at approximately $18,099,000. Finally, Barclays PLC boosted its holdings in shares of Li Auto by 41.8% in the 3rd quarter. Barclays PLC now owns 602,028 shares of the company’s stock valued at $15,442,000 after acquiring an additional 177,414 shares during 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.