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

Li Auto Inc. (NASDAQ:LI) gapped down before the market opened on Thursday . The stock had previously closed at $29.73, but opened at $28.54. Li Auto shares last traded at $28.73, with a volume of 931,377 shares traded.

Analysts Set New Price Targets

Several equities analysts have issued reports on LI shares. JPMorgan Chase & Co. raised shares of Li Auto from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $22.00 to $40.00 in a report on Friday, February 28th. Macquarie upgraded Li Auto from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 6th. Finally, HSBC set a $38.50 price objective on shares of Li Auto and gave the company a “buy” rating in a report on Thursday, March 6th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.59.

Li Auto Trading Down 4.0 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.64 and a current ratio of 1.76. The company’s fifty day moving average is $25.38 and its two-hundred day moving average is $24.25. The company has a market cap of $30.28 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 3.27 and a beta of 0.86.

Hedge Funds Weigh In On Li Auto

Several institutional investors and hedge funds have recently modified their holdings of LI. Aspex Management HK Ltd increased its position in shares of Li Auto by 55.0% in the third quarter. Aspex Management HK Ltd now owns 10,643,926 shares of the company’s stock valued at $273,017,000 after buying an additional 3,778,463 shares in the last quarter. FMR LLC raised its position in shares of Li Auto by 422.4% during the 3rd quarter. FMR LLC now owns 4,252,398 shares of the company’s stock worth $109,074,000 after purchasing an additional 3,438,410 shares during the last quarter. LMR Partners LLP purchased a new position in Li Auto in the 4th quarter valued at about $16,266,000. OLD Mission Capital LLC acquired a new stake in Li Auto in the 4th quarter worth about $14,704,000. Finally, RWC Asset Advisors US LLC lifted its position in shares of Li Auto by 20.0% in the fourth quarter. RWC Asset Advisors US LLC now owns 3,181,050 shares of the company’s stock valued at $76,313,000 after acquiring an additional 530,390 shares in the last quarter. Institutional investors and hedge funds own 9.88% of the company’s stock.

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.