Li Auto (NASDAQ:LI) Shares Gap Up – What’s Next?

Li Auto Inc. Sponsored ADR (NASDAQ:LI) gapped up before the market opened on Friday. The stock had previously closed at $10.90, but opened at $11.45. Li Auto shares last traded at $11.6650, with a volume of 1,466,744 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on LI shares. Wall Street Zen lowered Li Auto from a “sell” rating to a “strong sell” rating in a report on Sunday, September 6th. Piper Sandler decreased their price target on shares of Li Auto from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, August 27th. Sanford C. Bernstein reiterated a “market perform” rating and set a $14.50 price target on shares of Li Auto in a research note on Wednesday, August 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of Li Auto in a research note on Wednesday, August 26th. Finally, Zacks Research upgraded Li Auto from a “strong sell” rating to a “hold” rating in a research note on Friday, October 2nd. Eleven equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $16.28.

Li Auto Stock Up 6.7%

The stock has a market capitalization of $12.04 billion, a P/E ratio of -17.35 and a beta of 0.50. The stock has a 50 day moving average price of $12.07 and a 200-day moving average price of $14.29. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.81 and a quick ratio of 1.65.

Li Auto (NASDAQ:LI) last issued its earnings results on Friday, July 31st. The company reported ($0.22) EPS for the quarter. The firm had revenue of $3.78 billion during the quarter. Li Auto had a negative return on equity of 6.58% and a negative net margin of 4.44%. As a group, research analysts expect that Li Auto Inc. Sponsored ADR will post -0.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Li Auto

Several institutional investors and hedge funds have recently made changes to their positions in LI. QRG Capital Management Inc. raised its position in Li Auto by 10.5% in the 2nd quarter. QRG Capital Management Inc. now owns 17,003 shares of the company’s stock worth $200,000 after buying an additional 1,615 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Li Auto by 10.7% during the 2nd quarter. Tidal Investments LLC now owns 47,986 shares of the company’s stock valued at $563,000 after acquiring an additional 4,650 shares during the period. WINTON GROUP Ltd bought a new position in shares of Li Auto in the second quarter worth approximately $470,000. Engineers Gate Manager LP purchased a new stake in Li Auto in the 2nd quarter worth $500,000. Finally, Nykredit A S bought a new stake in Li Auto during the 2nd quarter valued at approximately $816,000. Institutional investors own 9.88% of the company’s stock.

About Li Auto

Li Auto Inc is a Chinese automotive company that designs, develops, manufactures and sells new energy vehicles. The company focuses primarily on premium smart SUVs and has built its business around range-extended electric vehicle technology, which uses an onboard gasoline engine to generate electricity for the vehicle’s battery and electric motors.

Li Auto’s vehicle lineup has included the Li ONE and the L-series range-extended electric SUVs, including the Li L6, L7, L8 and L9. The company has also expanded into battery-electric vehicles, including the Li MEGA multi-purpose vehicle.