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

Li Auto Inc. (NASDAQ:LI)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $22.60, but opened at $22.03. Li Auto shares last traded at $22.07, with a volume of 1,016,180 shares.

Wall Street Analyst Weigh In

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

Li Auto Price Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.64 and a current ratio of 1.76. The stock has a market cap of $23.49 billion, a P/E ratio of 16.71, a P/E/G ratio of 2.22 and a beta of 0.99. The business has a 50 day simple moving average of $25.09 and a 200-day simple moving average of $22.06.

Li Auto (NASDAQ:LI) last issued its earnings results on Wednesday, August 28th. The company reported $0.14 EPS for the quarter. Li Auto had a return on equity of 13.03% and a net margin of 7.20%. The business had revenue of $4.36 billion during the quarter. On average, sell-side analysts forecast that Li Auto Inc. will post 1.04 EPS for the current year.

Institutional Trading of Li Auto

Several institutional investors and hedge funds have recently modified their holdings of LI. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Li Auto by 58.7% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company’s stock valued at $28,000 after buying an additional 573 shares in the last quarter. Blue Trust Inc. increased its stake in Li Auto by 1,707.4% in the 2nd quarter. Blue Trust Inc. now owns 1,952 shares of the company’s stock worth $35,000 after purchasing an additional 1,844 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Li Auto in the 3rd quarter worth approximately $39,000. Venturi Wealth Management LLC bought a new stake in shares of Li Auto in the 3rd quarter worth approximately $50,000. Finally, BNP Paribas grew its position in shares of Li Auto by 300.0% in the 3rd quarter. BNP Paribas now owns 2,000 shares of the company’s stock worth $51,000 after buying an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 9.88% of the company’s stock.

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.