Li Auto (NASDAQ:LI) Shares Gap Up – Here’s What Happened

Li Auto Inc. (NASDAQ:LI)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $27.35, but opened at $28.50. Li Auto shares last traded at $27.44, with a volume of 1,868,311 shares changing hands.

Wall Street Analyst Weigh In

LI has been the topic of several research analyst reports. JPMorgan Chase & Co. upgraded Li Auto from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $22.00 to $40.00 in a research report on Friday, February 28th. HSBC set a $38.50 target price on Li Auto and gave the stock a “buy” rating in a research report on Thursday, March 6th. Finally, Macquarie downgraded Li Auto from an “outperform” rating to a “neutral” rating and set a $27.00 target price on the stock. in a research report on Monday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.73.

Li Auto Stock Up 0.2 %

The company has a 50 day simple moving average of $25.60 and a two-hundred day simple moving average of $24.45. 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 capitalization of $29.09 billion, a P/E ratio of 20.24, a PEG ratio of 3.27 and a beta of 0.86.

Institutional Investors Weigh In On Li Auto

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas increased its stake in Li Auto by 300.0% during the third quarter. BNP Paribas now owns 2,000 shares of the company’s stock worth $51,000 after acquiring an additional 1,500 shares during the last quarter. Avior Wealth Management LLC increased its stake in Li Auto by 708.5% during the third 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 last quarter. Daiwa Securities Group Inc. grew its stake in shares of Li Auto by 16.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the company’s stock valued at $84,000 after buying an additional 500 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Li Auto during the fourth quarter valued at approximately $129,000. Finally, Blue Trust Inc. grew its stake in shares of Li Auto by 66.2% during the fourth quarter. Blue Trust Inc. now owns 5,058 shares of the company’s stock valued at $130,000 after buying an additional 2,015 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.