Li Auto (NASDAQ:LI) Shares Gap Up – Time to Buy?

Li Auto Inc. (NASDAQ:LI) shares gapped up prior to trading on Friday . The stock had previously closed at $24.02, but opened at $24.82. Li Auto shares last traded at $24.47, with a volume of 646,796 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on LI shares. Citigroup boosted their price objective on Li Auto from $25.50 to $29.60 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Macquarie reissued a “neutral” rating and set a $33.00 target price (up from $25.00) on shares of Li Auto in a report on Friday, October 4th. Finally, Barclays raised 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. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.94.

Li Auto Trading Up 1.8 %

The business has a 50 day moving average of $23.87 and a two-hundred day moving average of $22.26. The firm has a market capitalization of $25.94 billion, a price-to-earnings ratio of 18.11, a P/E/G ratio of 2.13 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.64 and a current ratio of 1.76.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LI. American Century Companies Inc. boosted its stake in shares of Li Auto by 20.5% in the 2nd quarter. American Century Companies Inc. now owns 726,684 shares of the company’s stock worth $12,993,000 after buying an additional 123,838 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Li Auto by 2,556.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,630,537 shares of the company’s stock worth $93,503,000 after purchasing an additional 3,493,881 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Li Auto by 27.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 432,988 shares of the company’s stock worth $11,106,000 after purchasing an additional 93,904 shares during the last quarter. Ariose Capital Management Ltd bought a new position in Li Auto in the 3rd quarter valued at $18,099,000. Finally, Barclays PLC increased its position in shares of Li Auto by 41.8% during the 3rd quarter. Barclays PLC now owns 602,028 shares of the company’s stock valued at $15,442,000 after purchasing an additional 177,414 shares during the last quarter. Institutional investors 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.