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

Li Auto Inc. (NASDAQ:LI) gapped up before the market opened on Tuesday . The stock had previously closed at $26.36, but opened at $29.59. Li Auto shares last traded at $29.97, with a volume of 6,509,531 shares.

Analyst Upgrades and Downgrades

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

Li Auto Price Performance

The business has a fifty day moving average price of $24.09 and a 200 day moving average price of $23.51. The company has a market capitalization of $31.52 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 3.27 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.64.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Aspex Management HK Ltd boosted its stake in 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 purchasing an additional 3,778,463 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Li Auto by 1.3% during the 4th 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 in the last quarter. FMR LLC boosted its position in shares of Li Auto by 422.4% in the 3rd quarter. FMR LLC now owns 4,252,398 shares of the company’s stock valued at $109,074,000 after purchasing an additional 3,438,410 shares during the period. Brilliance Asset Management Ltd. raised its stake in Li Auto by 0.7% during the 4th quarter. Brilliance Asset Management Ltd. now owns 3,508,642 shares of the company’s stock valued at $84,172,000 after purchasing an additional 24,416 shares during the period. Finally, RWC Asset Advisors US LLC boosted its stake in shares of Li Auto by 20.0% during the 4th quarter. RWC Asset Advisors US LLC now owns 3,181,050 shares of the company’s stock valued at $76,313,000 after buying an additional 530,390 shares during the period. 9.88% of the stock is currently owned by institutional investors.

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.