Li Auto (NASDAQ:LI) Shares Gap Up to $22.20

Li Auto Inc. (NASDAQ:LI) shares gapped up prior to trading on Tuesday . The stock had previously closed at $22.20, but opened at $24.19. Li Auto shares last traded at $23.97, with a volume of 1,743,892 shares trading hands.

Analysts Set New Price Targets

LI has been the subject of a number of analyst reports. Citigroup lowered Li Auto from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. cut their price target on shares of Li Auto from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Finally, Bank of America increased their target price on shares of Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Li Auto presently has a consensus rating of “Moderate Buy” and an average price target of $36.36.

Li Auto Trading Up 8.6 %

The company has a market capitalization of $25.57 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.78 and a beta of 0.96. The company has a 50-day simple moving average of $19.80 and a 200 day simple moving average of $23.33. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 1.76.

Li Auto (NASDAQ:LI) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.14 earnings per share (EPS) for the quarter. Li Auto had a net margin of 7.65% and a return on equity of 13.70%. The company had revenue of $4.36 billion for the quarter. Sell-side analysts expect that Li Auto Inc. will post 1.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Li Auto by 58.7% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company’s stock valued at $28,000 after acquiring an additional 573 shares during the period. Blue Trust Inc. raised its stake in shares of Li Auto by 1,707.4% in the second quarter. Blue Trust Inc. now owns 1,952 shares of the company’s stock valued at $35,000 after acquiring an additional 1,844 shares during the last quarter. Scarborough Advisors LLC acquired a new position in shares of Li Auto in the 4th quarter worth approximately $41,000. Barometer Capital Management Inc. bought a new stake in Li Auto during the 4th quarter worth approximately $135,000. Finally, QRG Capital Management Inc. increased its holdings in Li Auto by 58.5% during the 2nd quarter. QRG Capital Management Inc. now owns 11,731 shares of the company’s stock valued at $210,000 after purchasing an additional 4,331 shares in the last quarter. 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.