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

Li Auto Inc. (NASDAQ:LI)’s stock price gapped up prior to trading 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 traded.

Wall Street Analyst Weigh In

A number of analysts have issued reports on LI shares. Barclays raised their price target 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. Macquarie upgraded shares of Li Auto from a “neutral” rating to an “outperform” rating in a research note 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.77.

Li Auto Stock Up 3.4 %

The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.13. The company has a market cap of $28.11 billion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 3.20 and a beta of 0.92. The firm’s 50 day simple moving average is $23.75 and its 200 day simple moving average is $23.30.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in Li Auto by 2,556.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,630,537 shares of the company’s stock worth $93,503,000 after purchasing an additional 3,493,881 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Li Auto by 27.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 432,988 shares of the company’s stock worth $11,106,000 after acquiring an additional 93,904 shares during the period. Ariose Capital Management Ltd acquired a new stake in Li Auto in the 3rd quarter worth $18,099,000. Atomi Financial Group Inc. acquired a new stake in shares of Li Auto during the 4th quarter valued at about $271,000. Finally, Barclays PLC boosted its position in shares of Li Auto by 41.8% during the 3rd quarter. Barclays PLC now owns 602,028 shares of the company’s stock valued at $15,442,000 after acquiring an additional 177,414 shares in the last quarter. Institutional investors and hedge funds 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.