Li Auto (NASDAQ:LI) Shares Gap Up – Should You Buy?

Li Auto Inc. (NASDAQ:LI) gapped up before the market opened on Thursday . The stock had previously closed at $24.44, but opened at $25.51. Li Auto shares last traded at $26.00, with a volume of 2,947,401 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LI shares. Bank of America raised their price objective on Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. decreased their price target on shares of Li Auto from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Citigroup raised their price objective on shares of Li Auto from $25.50 to $29.60 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Barclays upped their target price on Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Finally, Macquarie restated a “neutral” rating and issued a $33.00 price target (up from $25.00) on shares of Li Auto in a research note on Friday, October 4th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.94.

Li Auto Trading Up 5.1 %

The firm has a 50 day moving average of $24.03 and a 200-day moving average of $22.06. 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 firm has a market capitalization of $27.25 billion, a P/E ratio of 19.02, a PEG ratio of 2.13 and a beta of 0.94.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LI. Aspex Management HK Ltd grew its position in 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 acquiring an additional 3,778,463 shares during the last quarter. FMR LLC boosted its stake in shares of Li Auto by 422.4% in the 3rd 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 holdings in shares of 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 valued at $93,503,000 after purchasing an additional 3,493,881 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Li Auto during the 2nd quarter worth approximately $21,626,000. Finally, American Century Companies Inc. lifted its stake in Li Auto by 20.5% in the 2nd 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 during 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.