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

Shares of Li Auto Inc. (NASDAQ:LI) gapped up prior to trading on Wednesday . The stock had previously closed at $21.83, but opened at $22.74. Li Auto shares last traded at $22.96, with a volume of 1,212,642 shares.

Analysts Set New Price Targets

LI has been the subject of a number of research reports. Macquarie reaffirmed a “neutral” rating and set a $33.00 target price (up previously from $25.00) on shares of Li Auto in a report on Friday, October 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. JPMorgan Chase & Co. lowered 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. Bank of America increased their price target on Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Barclays boosted their price objective on Li Auto from $22.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Li Auto presently has an average rating of “Moderate Buy” and a consensus price target of $33.94.

Li Auto Trading Up 6.8 %

The firm has a market cap of $24.73 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 2.15 and a beta of 0.99. 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 50 day moving average price of $25.32 and a 200 day moving average price of $21.88.

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

Institutional Trading of Li Auto

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. increased its stake in Li Auto by 58.7% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company’s stock worth $28,000 after purchasing an additional 573 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in Li Auto by 2.6% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 31,000 shares of the company’s stock worth $554,000 after buying an additional 800 shares during the period. Blue Trust Inc. lifted its holdings in Li Auto by 55.9% during the 3rd quarter. Blue Trust Inc. now owns 3,043 shares of the company’s stock worth $78,000 after buying an additional 1,091 shares in the last quarter. BNP Paribas boosted its position in Li Auto by 300.0% in the 3rd quarter. BNP Paribas now owns 2,000 shares of the company’s stock valued at $51,000 after buying an additional 1,500 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Li Auto in the third quarter worth $39,000. Hedge funds and other institutional investors own 9.88% of the company’s stock.

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.