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

Li Auto Inc. (NASDAQ:LI)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $28.04, but opened at $26.51. Li Auto shares last traded at $26.92, with a volume of 2,558,827 shares traded.

Analyst Ratings Changes

Several analysts have recently weighed in on LI shares. Bank of America lifted their target price on shares of Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Macquarie reaffirmed a “neutral” rating and set a $33.00 price objective (up from $25.00) on shares of Li Auto in a report on Friday, October 4th. Citigroup increased their target price on Li Auto from $25.50 to $29.60 and gave the stock a “neutral” rating in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. decreased their price target on Li Auto from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Li Auto presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.66.

Li Auto Stock Down 1.1 %

The business’s fifty day simple moving average is $21.48 and its 200 day simple moving average is $22.72. The stock has a market cap of $29.43 billion, a price-to-earnings ratio of 18.69 and a beta of 0.98. The company has a current ratio of 1.76, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14.

Li Auto (NASDAQ:LI) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.14 earnings per share for the quarter. The business had revenue of $4.36 billion for the quarter. Li Auto had a net margin of 7.65% and a return on equity of 13.70%.

Hedge Funds Weigh In On Li Auto

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LI. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Li Auto in the second quarter worth $21,626,000. SIH Partners LLLP lifted its position in Li Auto by 508.2% during the 1st quarter. SIH Partners LLLP now owns 890,900 shares of the company’s stock worth $26,976,000 after buying an additional 744,419 shares in the last quarter. Franchise Capital Ltd boosted its stake in shares of Li Auto by 163.2% during the 4th quarter. Franchise Capital Ltd now owns 975,250 shares of the company’s stock worth $36,504,000 after buying an additional 604,773 shares during the last quarter. FIFTHDELTA Ltd bought a new position in shares of Li Auto in the 1st quarter valued at about $14,816,000. Finally, OLD Mission Capital LLC acquired a new stake in shares of Li Auto in the fourth quarter valued at about $17,696,000. 9.88% of the stock is 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.