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

Li Auto Inc. (NASDAQ:LI) gapped up prior to trading on Wednesday . The stock had previously closed at $25.63, but opened at $26.76. Li Auto shares last traded at $26.49, with a volume of 1,533,549 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Barclays lifted their price objective on Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Macquarie raised Li Auto from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.77.

Li Auto Stock Up 4.1 %

The firm has a 50-day moving average of $23.90 and a 200 day moving average of $23.34. The stock has a market capitalization of $29.14 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 3.28 and a beta of 0.92. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13.

Hedge Funds Weigh In On Li Auto

A number of institutional investors have recently made changes to their positions in the business. Aspex Management HK Ltd raised its position 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 valued at $273,017,000 after purchasing an additional 3,778,463 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Li Auto by 1.3% in the 4th quarter. Renaissance Technologies LLC now owns 7,800,639 shares of the company’s stock valued at $187,137,000 after purchasing an additional 99,539 shares in the last quarter. FMR LLC raised its position in shares of Li Auto by 422.4% in the 3rd quarter. FMR LLC now owns 4,252,398 shares of the company’s stock valued at $109,074,000 after purchasing an additional 3,438,410 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Li Auto by 2,556.7% in 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 purchasing an additional 3,493,881 shares in the last quarter. Finally, Brilliance Asset Management Ltd. raised its position in shares of Li Auto by 0.7% in the 4th quarter. Brilliance Asset Management Ltd. now owns 3,508,642 shares of the company’s stock valued at $84,172,000 after purchasing an additional 24,416 shares in the last quarter. 9.88% of the stock is 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.