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

Li Auto Inc. (NASDAQ:LI)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $22.88, but opened at $24.10. Li Auto shares last traded at $24.50, with a volume of 1,797,626 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Barclays boosted their price target on Li Auto from $22.00 to $31.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $33.94.

Li Auto Price Performance

The company has a 50 day moving average price of $23.27 and a 200-day moving average price of $22.88. 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 company has a market cap of $24.80 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 1.31 and a beta of 0.92.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LI. Allspring Global Investments Holdings LLC bought a new stake in shares of Li Auto in the 3rd quarter valued at $39,000. Venturi Wealth Management LLC acquired a new position in Li Auto in the third quarter valued at $50,000. BNP Paribas boosted its position in Li Auto by 300.0% during the third quarter. BNP Paribas now owns 2,000 shares of the company’s stock valued at $51,000 after acquiring an additional 1,500 shares during the last quarter. Avior Wealth Management LLC grew 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 period. Finally, Blue Trust Inc. raised its position 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.

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.