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

Li Auto Inc. (NASDAQ:LI)’s share price gapped down prior to trading on Monday . The stock had previously closed at $30.73, but opened at $28.42. Li Auto shares last traded at $27.57, with a volume of 3,596,617 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Macquarie upgraded Li Auto from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 6th. Barclays raised their price objective 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, JPMorgan Chase & Co. raised shares of Li Auto from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $22.00 to $40.00 in a report on Friday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Li Auto has a consensus rating of “Moderate Buy” and a consensus target price of $36.27.

Li Auto Stock Performance

The firm has a fifty day moving average price of $24.76 and a 200 day moving average price of $23.85. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13. The firm has a market cap of $29.07 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 3.27 and a beta of 0.92.

Institutional Trading of Li Auto

Several institutional investors have recently made changes to their positions in the company. Creative Planning raised its stake in shares of Li Auto by 39.4% in the 3rd quarter. Creative Planning now owns 23,751 shares of the company’s stock valued at $609,000 after acquiring an additional 6,712 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Li Auto in the 3rd quarter valued at about $39,000. Janney Montgomery Scott LLC increased its stake in Li Auto by 43.8% during the third quarter. Janney Montgomery Scott LLC now owns 43,137 shares of the company’s stock worth $1,106,000 after purchasing an additional 13,139 shares during the period. Van ECK Associates Corp increased its stake in Li Auto by 4.3% during the third quarter. Van ECK Associates Corp now owns 219,995 shares of the company’s stock worth $5,955,000 after purchasing an additional 9,008 shares during the period. Finally, Ground Swell Capital LLC acquired a new stake in shares of Li Auto during the third quarter worth about $231,000. 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.