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

Li Auto Inc. (NASDAQ:LI)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $25.07, but opened at $25.92. Li Auto shares last traded at $26.04, with a volume of 813,087 shares traded.

Wall Street Analysts Forecast Growth

LI has been the subject of several research reports. Macquarie upgraded Li Auto from a “neutral” rating to an “outperform” rating in a report on Thursday, February 6th. Barclays lifted their price objective on 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.77.

Li Auto Price Performance

The firm has a market cap of $26.74 billion, a P/E ratio of 18.67, a PEG ratio of 1.39 and a beta of 0.92. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13. The firm has a 50-day simple moving average of $23.59 and a 200-day simple moving average of $23.11.

Institutional Trading of Li Auto

Institutional investors have recently modified their holdings of 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 acquired a new position in shares of Li Auto during the third quarter valued at about $50,000. BNP Paribas increased its holdings in shares of 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 in the last quarter. Avior Wealth Management LLC raised its position in shares of Li Auto by 708.5% in the 3rd quarter. Avior Wealth Management LLC now owns 2,385 shares of the company’s stock valued at $61,000 after purchasing an additional 2,090 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in 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 purchasing an additional 1,091 shares in the last quarter. 9.88% of the stock is currently 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.