Li Auto (NASDAQ:LI) Shares Gap Down to $19.58

Li Auto Inc. (NASDAQ:LI)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $19.58, but opened at $19.12. Li Auto shares last traded at $18.80, with a volume of 888,938 shares.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Barclays lowered their price target on shares of Li Auto from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Tuesday, May 21st. JPMorgan Chase & Co. lowered their price target on Li Auto from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Bank of America lifted their price objective on Li Auto from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Morgan Stanley cut their target price on shares of Li Auto from $65.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 21st. Finally, Citigroup cut Li Auto from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $36.36.

Li Auto Trading Down 3.3 %

The firm has a 50-day moving average price of $19.82 and a 200-day moving average price of $24.62. The stock has a market cap of $20.08 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 1.67 and a beta of 0.96. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 1.76.

Hedge Funds Weigh In On Li Auto

A number of hedge funds have recently bought and sold shares of LI. International Assets Investment Management LLC bought a new position in Li Auto in the fourth quarter valued at about $420,000. Natixis Advisors L.P. purchased a new position in Li Auto during the fourth quarter valued at $377,000. Quadrant Capital Group LLC grew its stake in shares of Li Auto by 7.6% during the 4th quarter. Quadrant Capital Group LLC now owns 10,497 shares of the company’s stock valued at $393,000 after acquiring an additional 745 shares during the period. Navellier & Associates Inc. bought a new position in shares of Li Auto in the fourth quarter worth approximately $3,570,000. Finally, NINE MASTS CAPITAL Ltd bought a new stake in Li Auto during the fourth quarter valued at about $1,038,000. Hedge funds and other 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.