Li Auto (NASDAQ:LI) Shares Gap Up – Still a Buy?

Li Auto Inc. (NASDAQ:LI)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $21.83, but opened at $22.74. Li Auto shares last traded at $22.96, with a volume of 1,212,642 shares traded.

Analyst Ratings Changes

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

Li Auto Price Performance

The firm has a fifty day moving average price of $25.23 and a two-hundred day moving average price of $21.86. 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 stock has a market capitalization of $24.76 billion, a P/E ratio of 17.33, a P/E/G ratio of 2.15 and a beta of 0.99.

Li Auto (NASDAQ:LI) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.14 earnings per share for the quarter. Li Auto had a net margin of 7.20% and a return on equity of 13.03%. The firm had revenue of $4.36 billion during the quarter. On average, analysts expect that Li Auto Inc. will post 1.04 EPS for the current year.

Institutional Trading of Li Auto

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Aspex Management HK Ltd raised its position in Li Auto by 55.0% in the 3rd quarter. Aspex Management HK Ltd now owns 10,643,926 shares of the company’s stock worth $273,017,000 after purchasing an additional 3,778,463 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in 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 acquiring an additional 3,493,881 shares during the period. FMR LLC grew its position in 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 acquiring an additional 3,438,410 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Li Auto during the second quarter valued at $21,626,000. Finally, Ariose Capital Management Ltd bought a new position in shares of Li Auto in the third quarter worth about $18,099,000. 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.