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

Li Auto Inc. (NASDAQ:LI)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $29.73, but opened at $28.54. Li Auto shares last traded at $28.73, with a volume of 931,377 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LI shares. JPMorgan Chase & Co. raised shares of Li Auto from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $22.00 to $40.00 in a research note on Friday, February 28th. HSBC set a $38.50 price target on shares of Li Auto and gave the stock a “buy” rating in a research note on Thursday, March 6th. Finally, Macquarie raised shares of Li Auto from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.59.

Li Auto Trading Down 4.4 %

The stock has a market capitalization of $29.14 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 3.27 and a beta of 0.86. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.64. The business’s 50-day simple moving average is $25.53 and its two-hundred day simple moving average is $24.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. RWC Asset Advisors US LLC raised its stake in shares of Li Auto by 20.0% during the fourth quarter. RWC Asset Advisors US LLC now owns 3,181,050 shares of the company’s stock valued at $76,313,000 after purchasing an additional 530,390 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Li Auto by 27.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 432,988 shares of the company’s stock valued at $11,106,000 after purchasing an additional 93,904 shares during the period. Atomi Financial Group Inc. purchased a new stake in shares of Li Auto during the fourth quarter valued at approximately $271,000. Barclays PLC raised its stake in shares of Li Auto by 41.8% during the third quarter. Barclays PLC now owns 602,028 shares of the company’s stock valued at $15,442,000 after purchasing an additional 177,414 shares during the period. Finally, Ping Capital Management Inc. increased its stake in shares of Li Auto by 161.9% in the fourth quarter. Ping Capital Management Inc. now owns 27,500 shares of the company’s stock worth $660,000 after buying an additional 17,000 shares during the last quarter. 9.88% of the stock is owned by institutional investors and hedge funds.

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.