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

Li Auto Inc. (NASDAQ:LI) gapped down before the market opened on Friday . The stock had previously closed at $22.60, but opened at $22.03. Li Auto shares last traded at $22.07, with a volume of 1,016,180 shares trading hands.

Analyst Upgrades and Downgrades

LI has been the topic of several research reports. JPMorgan Chase & Co. dropped their price target on Li Auto from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Citigroup lifted their price target on Li Auto from $25.50 to $29.60 and gave the company a “neutral” rating in a research report on Monday, September 30th. Bank of America lifted their price target on Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Macquarie restated a “neutral” rating and set a $33.00 price target (up from $25.00) on shares of Li Auto in a research report on Friday, October 4th. Finally, Barclays lifted their price target on Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Li Auto currently has a consensus rating of “Moderate Buy” and an average price target of $33.94.

Li Auto Stock Down 2.0 %

The stock has a 50 day simple moving average of $25.09 and a 200-day simple moving average of $22.06. The firm has a market cap of $23.49 billion, a PE ratio of 16.71, a PEG ratio of 2.22 and a beta of 0.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.64.

Li Auto (NASDAQ:LI) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.14 earnings per share for the quarter. Li Auto had a return on equity of 13.03% and a net margin of 7.20%. The firm had revenue of $4.36 billion during the quarter. Sell-side analysts predict that Li Auto Inc. will post 1.04 EPS for the current fiscal year.

Institutional Trading of Li Auto

A number of hedge funds have recently bought and sold shares of LI. Allspring Global Investments Holdings LLC bought a new stake in Li Auto during the third quarter valued at about $39,000. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Li Auto by 58.7% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company’s stock valued at $28,000 after purchasing an additional 573 shares during the period. Venturi Wealth Management LLC bought a new stake in Li Auto during the third quarter valued at about $50,000. Blue Trust Inc. grew its holdings in Li Auto by 1,707.4% during the second quarter. Blue Trust Inc. now owns 1,952 shares of the company’s stock valued at $35,000 after purchasing an additional 1,844 shares during the period. Finally, BNP Paribas grew its holdings in Li Auto by 300.0% during the third quarter. BNP Paribas now owns 2,000 shares of the company’s stock valued at $51,000 after purchasing an additional 1,500 shares during the period. 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.