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

Li Auto Inc. (NASDAQ:LI)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $22.59, but opened at $23.62. Li Auto shares last traded at $23.41, with a volume of 1,246,497 shares trading hands.

Analysts Set New Price Targets

LI has been the subject of a number of recent research reports. Citigroup increased their price objective on shares of Li Auto from $25.50 to $29.60 and gave the stock a “neutral” rating in a research note on Monday, September 30th. Macquarie reissued a “neutral” rating and set a $33.00 price target (up from $25.00) on shares of Li Auto in a research report on Friday, October 4th. Finally, Barclays boosted their price target on 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $33.94.

Li Auto Stock Performance

The stock has a market cap of $24.00 billion, a P/E ratio of 16.76, a price-to-earnings-growth ratio of 1.33 and a beta of 0.93. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $23.11 and a 200 day simple moving average of $22.67.

Institutional Investors Weigh In On Li Auto

A number of large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in shares of Li Auto in the 3rd quarter valued at $39,000. Venturi Wealth Management LLC acquired a new stake in Li Auto in the third quarter valued at about $50,000. BNP Paribas grew its position in 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 acquiring an additional 1,500 shares during the last quarter. Avior Wealth Management LLC raised its stake in Li Auto by 708.5% during the third quarter. Avior Wealth Management LLC now owns 2,385 shares of the company’s stock worth $61,000 after acquiring an additional 2,090 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Li Auto by 55.9% in the third quarter. Blue Trust Inc. now owns 3,043 shares of the company’s stock worth $78,000 after acquiring an additional 1,091 shares during the last quarter. 9.88% of the stock is currently owned by institutional investors and hedge funds.

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.