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

Li Auto Inc. (NASDAQ:LI) 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.

Analyst Ratings Changes

A number of brokerages have weighed in on LI. Citigroup upped their price objective on shares of Li Auto from $25.50 to $29.60 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Barclays upped their target price on 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, Macquarie reissued a “neutral” rating and issued a $33.00 price target (up previously from $25.00) on shares of Li Auto in a report on Friday, October 4th. Four investment 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.com, the company has a consensus rating of “Hold” and a consensus price target of $33.94.

Li Auto Price Performance

The stock’s fifty day moving average price is $23.11 and its 200-day moving average price is $22.68. The firm has a market cap of $24.18 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 1.27 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.64.

Institutional Investors Weigh In On Li Auto

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Li Auto during the third quarter worth $39,000. Venturi Wealth Management LLC purchased a new position in shares of Li Auto in the third quarter valued at approximately $50,000. BNP Paribas grew its holdings in shares of Li Auto by 300.0% in 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 in the last quarter. Avior Wealth Management LLC increased its stake in Li Auto by 708.5% during the 3rd quarter. Avior Wealth Management LLC now owns 2,385 shares of the company’s stock worth $61,000 after buying an additional 2,090 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Li Auto by 55.9% during the 3rd quarter. Blue Trust Inc. now owns 3,043 shares of the company’s stock worth $78,000 after buying an additional 1,091 shares in the last quarter. 9.88% of the stock is currently owned by institutional investors and hedge funds.

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.