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

Li Auto Inc. (NASDAQ:LI)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $23.68, but opened at $23.00. Li Auto shares last traded at $22.88, with a volume of 1,427,488 shares.

Analyst Upgrades and Downgrades

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

Li Auto Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.64. The stock has a market capitalization of $24.07 billion, a PE ratio of 17.54, a P/E/G ratio of 2.27 and a beta of 0.99. The firm has a fifty day moving average price of $25.36 and a two-hundred day moving average price of $21.80.

Institutional Trading of Li Auto

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. American Century Companies Inc. increased its position in shares of Li Auto by 20.5% during the second quarter. American Century Companies Inc. now owns 726,684 shares of the company’s stock worth $12,993,000 after acquiring an additional 123,838 shares during the period. Mirae Asset Global Investments Co. Ltd. increased 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 worth $93,503,000 after purchasing an additional 3,493,881 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Li Auto by 27.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 432,988 shares of the company’s stock valued at $11,106,000 after purchasing an additional 93,904 shares in the last quarter. Ariose Capital Management Ltd purchased a new stake in shares of Li Auto in the 3rd quarter worth $18,099,000. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Li Auto by 510.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 76,450 shares of the company’s stock worth $2,370,000 after buying an additional 63,917 shares during the period. Hedge funds and other 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.