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

Shares of Li Auto Inc. (NASDAQ:LI) gapped up before the market opened on Tuesday . The stock had previously closed at $22.88, but opened at $24.10. Li Auto shares last traded at $24.50, with a volume of 1,797,626 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Barclays raised their price target on shares of Li Auto from $22.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $33.94.

Li Auto Stock Up 6.8 %

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 firm has a 50-day simple moving average of $23.22 and a two-hundred day simple moving average of $22.84. The company has a market cap of $25.92 billion, a PE ratio of 18.10, a P/E/G ratio of 1.31 and a beta of 0.92.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new position in Li Auto in the third quarter worth about $39,000. Venturi Wealth Management LLC acquired a new stake in shares of Li Auto during the 3rd quarter valued at approximately $50,000. BNP Paribas lifted its stake in Li Auto by 300.0% during the third quarter. BNP Paribas now owns 2,000 shares of the company’s stock worth $51,000 after purchasing an additional 1,500 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in Li Auto by 708.5% in the third quarter. Avior Wealth Management LLC now owns 2,385 shares of the company’s stock worth $61,000 after purchasing an additional 2,090 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Li Auto by 55.9% during the third quarter. Blue Trust Inc. now owns 3,043 shares of the company’s stock worth $78,000 after purchasing an additional 1,091 shares during the period. Institutional investors and hedge funds 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.