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

Shares of Li Auto Inc. (NASDAQ:LI) gapped up prior to trading on Friday . The stock had previously closed at $27.56, but opened at $28.25. Li Auto shares last traded at $28.89, with a volume of 724,439 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently commented on LI shares. JPMorgan Chase & Co. upgraded shares of Li Auto from a “neutral” rating to an “overweight” rating and increased their target price for the company from $22.00 to $40.00 in a report on Friday, February 28th. Macquarie upgraded shares of Li Auto from a “neutral” rating to an “outperform” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.27.

Li Auto Price Performance

The business’s fifty day moving average is $25.09 and its 200-day moving average is $24.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.64. The firm has a market cap of $30.79 billion, a PE ratio of 21.50, a P/E/G ratio of 3.27 and a beta of 0.86.

Institutional Trading of Li Auto

Large investors have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC bought a new position in Li Auto during the third quarter worth about $50,000. BNP Paribas lifted its position in Li Auto by 300.0% during the third quarter. BNP Paribas now owns 2,000 shares of the company’s stock valued at $51,000 after purchasing an additional 1,500 shares during the last quarter. Avior Wealth Management LLC lifted its position in Li Auto by 708.5% during the third quarter. Avior Wealth Management LLC now owns 2,385 shares of the company’s stock valued at $61,000 after purchasing an additional 2,090 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Li Auto by 16.7% during the fourth 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 during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Li Auto during the fourth quarter worth approximately $129,000. Hedge funds and other institutional investors own 9.88% of the company’s stock.

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.