Li Auto (NASDAQ:LI) Shares Gap Down – Here’s Why

Li Auto Inc. (NASDAQ:LI)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $23.85, but opened at $23.18. Li Auto shares last traded at $23.14, with a volume of 365,959 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on LI shares. Nomura Securities upgraded Li Auto to a “hold” rating in a report on Monday, March 17th. Macquarie lowered Li Auto from an “outperform” rating to a “neutral” rating and set a $27.00 target price for the company. in a research note on Monday, March 17th. Cfra Research upgraded Li Auto to a “strong sell” rating in a report on Friday, March 21st. HSBC set a $38.50 price target on Li Auto and gave the stock a “buy” rating in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. upgraded shares of Li Auto from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $22.00 to $40.00 in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Li Auto presently has a consensus rating of “Hold” and an average price target of $35.73.

Li Auto Trading Down 3.0 %

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 business has a 50 day simple moving average of $26.10 and a two-hundred day simple moving average of $24.95. The stock has a market cap of $23.80 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 3.27 and a beta of 0.94.

Institutional Trading of Li Auto

Hedge funds have recently made changes to their positions in the stock. CX Institutional bought a new position in Li Auto during the 1st quarter valued at $72,000. Daiwa Securities Group Inc. raised its stake in shares of Li Auto by 16.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the company’s stock valued at $84,000 after purchasing an additional 500 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Li Auto during the fourth quarter worth about $129,000. Blue Trust Inc. grew its stake in Li Auto by 66.2% in the fourth quarter. Blue Trust Inc. now owns 5,058 shares of the company’s stock worth $130,000 after purchasing an additional 2,015 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Li Auto in the fourth quarter valued at about $191,000. 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.