Li Auto (NASDAQ:LI) Shares Gap Up – Should You 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.

Analysts Set New Price Targets

LI has been the subject of a number of recent analyst reports. Barclays upped their target price 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. Macquarie reissued a “neutral” rating and issued a $33.00 target price (up from $25.00) on shares of Li Auto in a report on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Li Auto currently has a consensus rating of “Hold” and a consensus price target of $33.94.

Li Auto Stock Performance

The company has a 50-day moving average price of $23.15 and a two-hundred day moving average price of $22.76. The company has a market capitalization of $24.69 billion, a PE ratio of 17.24, a PEG ratio of 1.27 and a beta of 0.93. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.13.

Hedge Funds Weigh In On Li Auto

A number of institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its position in Li Auto by 2,556.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,630,537 shares of the company’s stock valued at $93,503,000 after purchasing an additional 3,493,881 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Li Auto by 27.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 432,988 shares of the company’s stock valued at $11,106,000 after buying an additional 93,904 shares in the last quarter. Ariose Capital Management Ltd bought a new stake in Li Auto in the 3rd quarter worth approximately $18,099,000. Barclays PLC boosted its stake in Li Auto by 41.8% in the third quarter. Barclays PLC now owns 602,028 shares of the company’s stock worth $15,442,000 after buying an additional 177,414 shares in the last quarter. Finally, Atomi Financial Group Inc. bought a new position in Li Auto during the fourth quarter valued at approximately $271,000. 9.88% of the stock is currently owned by 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.