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

Li Auto Inc. (NASDAQ:LI) 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.

Analysts Set New Price Targets

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

Li Auto Stock Performance

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

Li Auto (NASDAQ:LI) last released its earnings results on Wednesday, August 28th. The company reported $0.14 earnings per share for the quarter. The firm had revenue of $4.36 billion for the quarter. Li Auto had a return on equity of 13.70% and a net margin of 7.65%. Analysts predict that Li Auto Inc. will post 1.04 EPS for the current year.

Hedge Funds Weigh In On Li Auto

Institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its stake in Li Auto by 1,059.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 25,028 shares of the company’s stock valued at $447,000 after purchasing an additional 22,869 shares in the last quarter. Susquehanna International Securities Ltd. acquired a new stake in shares of Li Auto in the 2nd quarter valued at approximately $257,000. HITE Hedge Asset Management LLC bought a new position in shares of Li Auto in the second quarter valued at $478,000. Bank of Montreal Can acquired a new position in Li Auto during the second quarter worth $2,041,000. Finally, DRW Securities LLC raised its position in Li Auto by 251.9% during the second quarter. DRW Securities LLC now owns 68,397 shares of the company’s stock worth $1,220,000 after acquiring an additional 48,963 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.