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

Li Auto Inc. (NASDAQ:LI) shares gapped down before the market opened on Wednesday . The stock had previously closed at $23.79, but opened at $23.18. Li Auto shares last traded at $22.89, with a volume of 732,001 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Macquarie restated a “neutral” rating and issued a $33.00 price objective (up from $25.00) on shares of Li Auto in a report on Friday, October 4th. Barclays lifted their target price on shares of Li Auto from $22.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Finally, Citigroup upped their price target on shares of Li Auto from $25.50 to $29.60 and gave the company a “neutral” rating in a research report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $33.94.

Li Auto Stock Up 0.8 %

The company has a market cap of $24.18 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 1.27 and a beta of 0.93. The stock’s 50-day moving average is $23.12 and its 200-day moving average is $22.68. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13.

Hedge Funds Weigh In On Li Auto

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. increased its position in Li Auto by 66.2% in the 4th quarter. Blue Trust Inc. now owns 5,058 shares of the company’s stock valued at $130,000 after buying an additional 2,015 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Li Auto by 26.9% during the fourth quarter. SG Americas Securities LLC now owns 212,415 shares of the company’s stock valued at $5,096,000 after acquiring an additional 45,008 shares in the last quarter. Atomi Financial Group Inc. bought a new stake in shares of Li Auto during the fourth quarter valued at approximately $271,000. Ballentine Partners LLC acquired a new position in shares of Li Auto during the fourth quarter worth approximately $223,000. Finally, SK Wealth Management LLC bought a new position in shares of Li Auto in the 3rd quarter worth $1,160,000. 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.