Li Auto (NASDAQ:LI) Shares Gap Up – Still a Buy?

Li Auto Inc. (NASDAQ:LI)’s share price 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 Analysts Forecast Growth

Several analysts have issued reports on LI shares. Barclays upped their price target on shares of Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Macquarie reaffirmed a “neutral” rating and issued a $33.00 price target (up from $25.00) on shares of Li Auto in a research note on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $33.94.

Li Auto Price Performance

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 has a 50 day moving average of $23.15 and a 200 day moving average of $22.76. The company has a market cap of $24.69 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 1.27 and a beta of 0.93.

Institutional Trading of Li Auto

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Aspex Management HK Ltd grew its stake in shares of Li Auto by 55.0% in the 3rd quarter. Aspex Management HK Ltd now owns 10,643,926 shares of the company’s stock worth $273,017,000 after buying an additional 3,778,463 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Li Auto by 2,556.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,630,537 shares of the company’s stock worth $93,503,000 after acquiring an additional 3,493,881 shares in the last quarter. FMR LLC boosted its holdings in Li Auto by 422.4% in the third quarter. FMR LLC now owns 4,252,398 shares of the company’s stock worth $109,074,000 after acquiring an additional 3,438,410 shares in the last quarter. Ariose Capital Management Ltd purchased a new stake in shares of Li Auto in the third quarter worth $18,099,000. Finally, Barclays PLC increased its holdings 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 acquiring an additional 177,414 shares in the last quarter. 9.88% of the stock is currently owned by hedge funds and other institutional investors.

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.