Li Auto (NASDAQ:LI) Shares Gap Down – What’s Next?

Shares of Li Auto Inc. (NASDAQ:LI) gapped down before the market opened on Wednesday . The stock had previously closed at $24.25, but opened at $23.32. Li Auto shares last traded at $23.32, with a volume of 704,797 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Macquarie raised shares of Li Auto from a “neutral” rating to an “outperform” rating in a research report on Thursday. Barclays boosted their price target on shares of Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.77.

Li Auto Stock Up 13.3 %

The stock has a 50-day moving average price of $23.30 and a 200-day moving average price of $22.89. 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 company has a market capitalization of $28.09 billion, a P/E ratio of 19.54, a P/E/G ratio of 1.31 and a beta of 0.92.

Institutional Trading of Li Auto

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in Li Auto during the 3rd quarter valued at about $39,000. Venturi Wealth Management LLC purchased a new stake in Li Auto in the 3rd quarter valued at $50,000. BNP Paribas lifted its stake in Li Auto by 300.0% during the 3rd quarter. BNP Paribas now owns 2,000 shares of the company’s stock valued at $51,000 after acquiring an additional 1,500 shares in the last quarter. Avior Wealth Management LLC boosted 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 worth $61,000 after acquiring an additional 2,090 shares during the last quarter. Finally, Blue Trust Inc. grew its stake 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 acquiring an additional 1,091 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.