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

Li Auto Inc. (NASDAQ:LI)’s share price gapped up before the market opened on Friday . The stock had previously closed at $27.56, but opened at $28.25. Li Auto shares last traded at $28.89, with a volume of 724,439 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Li Auto from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $22.00 to $40.00 in a research report on Friday, February 28th. Macquarie raised Li Auto from a “neutral” rating to an “outperform” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Li Auto currently has a consensus rating of “Moderate Buy” and an average price target of $36.27.

Li Auto Trading Up 4.7 %

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 firm has a market cap of $30.62 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 3.27 and a beta of 0.86. The firm’s fifty day moving average is $25.02 and its 200-day moving average is $24.01.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LI. Aspex Management HK Ltd lifted its position in shares of Li Auto by 55.0% during the 3rd quarter. Aspex Management HK Ltd now owns 10,643,926 shares of the company’s stock valued at $273,017,000 after acquiring an additional 3,778,463 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Li Auto by 1.3% during the fourth quarter. Renaissance Technologies LLC now owns 7,800,639 shares of the company’s stock valued at $187,137,000 after purchasing an additional 99,539 shares during the period. FMR LLC boosted its position in shares of Li Auto by 422.4% during the 3rd quarter. FMR LLC now owns 4,252,398 shares of the company’s stock worth $109,074,000 after purchasing an additional 3,438,410 shares in the last quarter. Brilliance Asset Management Ltd. increased its position in Li Auto by 0.7% in the 4th quarter. Brilliance Asset Management Ltd. now owns 3,508,642 shares of the company’s stock valued at $84,172,000 after buying an additional 24,416 shares in the last quarter. Finally, RWC Asset Advisors US LLC boosted its holdings in Li Auto by 20.0% in the fourth quarter. RWC Asset Advisors US LLC now owns 3,181,050 shares of the company’s stock worth $76,313,000 after acquiring an additional 530,390 shares in the last quarter. 9.88% of the stock is owned by institutional investors and hedge funds.

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.