Li Auto (NASDAQ:LI) Shares Gap Down – What’s Next?

Li Auto Inc. (NASDAQ:LI)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $23.79, but opened at $23.18. Li Auto shares last traded at $22.89, with a volume of 732,001 shares traded.

Analyst Upgrades and Downgrades

LI has been the topic of a number of analyst reports. Macquarie restated a “neutral” rating and issued a $33.00 target price (up previously from $25.00) on shares of Li Auto in a report on Friday, October 4th. Barclays raised their target price on Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Finally, Citigroup upped their price target on Li Auto from $25.50 to $29.60 and gave the stock a “neutral” rating in a report on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $33.94.

Li Auto Price Performance

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 stock has a market cap of $24.18 billion, a PE ratio of 16.88, a P/E/G ratio of 1.27 and a beta of 0.93. The business has a 50 day moving average price of $23.12 and a two-hundred day moving average price of $22.68.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LI. Blue Trust Inc. raised its stake in shares of Li Auto by 66.2% during the 4th quarter. Blue Trust Inc. now owns 5,058 shares of the company’s stock worth $130,000 after purchasing an additional 2,015 shares during the period. SG Americas Securities LLC raised its position in Li Auto by 26.9% in the fourth quarter. SG Americas Securities LLC now owns 212,415 shares of the company’s stock worth $5,096,000 after acquiring an additional 45,008 shares during the period. Atomi Financial Group Inc. purchased a new position in Li Auto in the fourth quarter valued at about $271,000. Ballentine Partners LLC bought a new position in shares of Li Auto during the 4th quarter valued at approximately $223,000. Finally, SK Wealth Management LLC purchased a new stake in shares of Li Auto during the 3rd quarter worth approximately $1,160,000. 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.