Li Auto (NASDAQ:LI) Shares Gap Down – Should You Sell?

Li Auto Inc. (NASDAQ:LI)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $24.25, but opened at $23.32. Li Auto shares last traded at $23.32, with a volume of 704,797 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LI. Macquarie raised Li Auto from a “neutral” rating to an “outperform” rating in a research report on Thursday. Barclays raised their price objective on shares of Li Auto from $22.00 to $31.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.77.

Li Auto Stock Up 13.3 %

The company has a market cap of $28.09 billion, a PE ratio of 19.54, a PEG ratio of 1.31 and a beta of 0.92. The stock’s 50 day moving average price is $23.30 and its 200-day moving average price is $22.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.64 and a current ratio of 1.76.

Institutional Trading of Li Auto

Large investors have recently added to or reduced their stakes in the stock. Aspex Management HK Ltd lifted its stake in Li Auto by 55.0% during the 3rd quarter. Aspex Management HK Ltd now owns 10,643,926 shares of the company’s stock valued at $273,017,000 after acquiring an additional 3,778,463 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Li Auto by 2,556.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,630,537 shares of the company’s stock valued at $93,503,000 after buying an additional 3,493,881 shares during the period. FMR LLC raised its stake in Li Auto by 422.4% during the 3rd 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 during the period. Ariose Capital Management Ltd purchased a new position in Li Auto during the third quarter valued at approximately $18,099,000. Finally, RWC Asset Advisors US LLC boosted its position in shares of Li Auto by 20.0% in the fourth quarter. RWC Asset Advisors US LLC now owns 3,181,050 shares of the company’s stock worth $76,313,000 after purchasing an additional 530,390 shares during the period. Institutional investors own 9.88% of the company’s stock.

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.