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

Li Auto Inc. (NASDAQ:LIGet Free Report)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $23.21, but opened at $23.88. Li Auto shares last traded at $23.71, with a volume of 858,747 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LI. Citigroup boosted their price objective on Li Auto from $25.50 to $29.60 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Macquarie reissued a “neutral” rating and issued a $33.00 price target (up previously from $25.00) on shares of Li Auto in a research note on Friday, October 4th. Finally, Barclays lifted their price objective on shares of Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $33.94.

Check Out Our Latest Stock Report on LI

Li Auto Stock Up 2.1 %

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 capitalization of $25.14 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 1.27 and a beta of 0.93. The business has a 50 day moving average price of $23.13 and a 200 day moving average price of $22.73.

Hedge Funds Weigh In On Li Auto

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ping Capital Management Inc. increased its stake in Li Auto by 161.9% in the fourth quarter. Ping Capital Management Inc. now owns 27,500 shares of the company’s stock valued at $660,000 after acquiring an additional 17,000 shares during the period. Blue Trust Inc. grew its stake in shares of Li Auto by 66.2% in the 4th quarter. Blue Trust Inc. now owns 5,058 shares of the company’s stock valued at $130,000 after purchasing an additional 2,015 shares during the period. SG Americas Securities LLC grew its stake in shares of Li Auto by 26.9% in the 4th quarter. SG Americas Securities LLC now owns 212,415 shares of the company’s stock valued at $5,096,000 after purchasing an additional 45,008 shares during the period. Atomi Financial Group Inc. bought a new position in shares of Li Auto during the 4th quarter worth approximately $271,000. Finally, Ballentine Partners LLC acquired a new stake in Li Auto in the 4th quarter valued at $223,000. 9.88% of the stock is currently owned by institutional investors.

Li Auto Company Profile

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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.

Further Reading

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