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

Li Auto Inc. (NASDAQ:LI) shares gapped up before the market opened on Tuesday . The stock had previously closed at $22.59, but opened at $23.62. Li Auto shares last traded at $23.41, with a volume of 1,246,497 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Barclays boosted their price objective on Li Auto from $22.00 to $31.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Citigroup increased their price objective on shares of Li Auto from $25.50 to $29.60 and gave the company a “neutral” rating in a report on Monday, September 30th. Finally, 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $33.94.

Li Auto Stock Performance

The company has a market cap of $25.27 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 1.27 and a beta of 0.93. 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 company has a fifty day moving average of $23.08 and a two-hundred day moving average of $22.65.

Institutional Investors Weigh In On Li Auto

Large investors have recently modified their holdings of the stock. Blue Trust Inc. raised its stake in Li Auto by 55.9% in the 3rd quarter. Blue Trust Inc. now owns 3,043 shares of the company’s stock valued at $78,000 after acquiring an additional 1,091 shares during the period. BNP Paribas grew its stake in Li Auto by 300.0% during the third quarter. BNP Paribas now owns 2,000 shares of the company’s stock valued at $51,000 after acquiring an additional 1,500 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Li Auto during the 3rd quarter worth approximately $39,000. Venturi Wealth Management LLC purchased a new position in Li Auto during the third quarter worth about $50,000. Finally, Avior Wealth Management LLC boosted its position in shares of Li Auto by 708.5% during the 3rd quarter. Avior Wealth Management LLC now owns 2,385 shares of the company’s stock valued at $61,000 after acquiring an additional 2,090 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.