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

Li Auto Inc. (NASDAQ:LI) shares gapped up prior to trading on Monday . The stock had previously closed at $23.21, but opened at $23.88. Li Auto shares last traded at $23.71, with a volume of 858,747 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LI. Barclays raised their target price on Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Macquarie reiterated a “neutral” rating and set a $33.00 target price (up from $25.00) on shares of Li Auto in a research report on Friday, October 4th. Finally, Citigroup raised their price target 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. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $33.94.

Li Auto Trading Up 2.1 %

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 moving average price is $23.13 and its two-hundred day moving average price is $22.73. The company has a market capitalization of $25.14 billion, a P/E ratio of 17.55, a PEG ratio of 1.27 and a beta of 0.93.

Institutional Investors Weigh In On Li Auto

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can bought a new stake in Li Auto in the second quarter valued at approximately $2,041,000. Northwestern Mutual Wealth Management Co. grew its position in Li Auto by 1,059.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 25,028 shares of the company’s stock worth $447,000 after buying an additional 22,869 shares in the last quarter. SG Americas Securities LLC increased its stake in Li Auto by 806.4% during the 3rd quarter. SG Americas Securities LLC now owns 167,407 shares of the company’s stock worth $4,294,000 after acquiring an additional 148,937 shares during the period. Creative Planning raised its holdings in 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 in the last quarter. Finally, JTC Employer Solutions Trustee Ltd bought a new stake in shares of Li Auto during the 3rd quarter valued at $195,000. 9.88% of the stock is currently owned by institutional investors and hedge funds.

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.