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

Shares of Li Auto Inc. (NASDAQ:LI) gapped up before the market opened on Wednesday . The stock had previously closed at $25.63, but opened at $26.76. Li Auto shares last traded at $26.49, with a volume of 1,533,549 shares changing hands.

Wall Street Analyst Weigh In

LI has been the topic of several recent analyst reports. Barclays upped their price objective on shares of Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Macquarie upgraded Li Auto from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.77.

Li Auto Stock Up 3.4 %

The business has a 50 day simple moving average of $23.75 and a 200-day simple moving average of $23.30. 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 firm has a market capitalization of $28.11 billion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 3.20 and a beta of 0.92.

Institutional Trading of Li Auto

A number of hedge funds and other institutional investors have recently modified their holdings of LI. Public Employees Retirement System of Ohio grew its position in shares of Li Auto by 66.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 58,525 shares of the company’s stock worth $1,404,000 after buying an additional 23,339 shares in the last quarter. Vident Advisory LLC raised its stake in shares of Li Auto by 11.2% during the fourth quarter. Vident Advisory LLC now owns 19,914 shares of the company’s stock worth $478,000 after purchasing an additional 1,998 shares during the last quarter. Tairen Capital Ltd purchased a new position in Li Auto in the fourth quarter worth $8,435,000. Point72 Hong Kong Ltd raised its position in Li Auto by 1,976.3% in the fourth quarter. Point72 Hong Kong Ltd now owns 212,673 shares of the company’s stock worth $5,102,000 after acquiring an additional 202,430 shares in the last quarter. Finally, Quantinno Capital Management LP grew its holdings in Li Auto by 17.6% in the fourth quarter. Quantinno Capital Management LP now owns 15,727 shares of the company’s stock valued at $377,000 after purchasing an additional 2,356 shares during the last quarter. 9.88% of the stock is owned by institutional investors and hedge funds.

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.