Li Auto (NASDAQ:LI) Shares Gap Down – Time to Sell?

Li Auto Inc. (NASDAQ:LI) shares gapped down before the market opened on Friday . The stock had previously closed at $22.60, but opened at $22.03. Li Auto shares last traded at $22.07, with a volume of 1,016,180 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Barclays raised their price objective on shares of Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Macquarie reaffirmed a “neutral” rating and issued a $33.00 price target (up previously from $25.00) on shares of Li Auto in a report on Friday, October 4th. Citigroup lifted their price objective on Li Auto from $25.50 to $29.60 and gave the company a “neutral” rating in a research note on Monday, September 30th. Bank of America upped their target price on Li Auto from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. lowered their price target on Li Auto from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Li Auto presently has a consensus rating of “Moderate Buy” and an average target price of $33.94.

Li Auto Stock Down 1.4 %

The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.13. The stock has a 50-day simple moving average of $25.15 and a two-hundred day simple moving average of $21.97. The firm has a market cap of $23.64 billion, a PE ratio of 16.50, a P/E/G ratio of 2.16 and a beta of 0.99.

Li Auto (NASDAQ:LI) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.14 earnings per share for the quarter. The company had revenue of $4.36 billion for the quarter. Li Auto had a return on equity of 13.03% and a net margin of 7.20%. Analysts expect that Li Auto Inc. will post 1.04 earnings per share for the current year.

Hedge Funds Weigh In On Li Auto

Large investors have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. increased its stake in Li Auto by 58.7% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company’s stock worth $28,000 after purchasing an additional 573 shares during the period. Blue Trust Inc. grew its holdings 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 worth $35,000 after purchasing an additional 1,844 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Li Auto in the third quarter worth approximately $39,000. Venturi Wealth Management LLC purchased a new position in shares of Li Auto in the third quarter worth $50,000. Finally, BNP Paribas raised its holdings in Li Auto by 300.0% during the 3rd quarter. BNP Paribas now owns 2,000 shares of the company’s stock valued at $51,000 after buying an additional 1,500 shares during the last quarter. 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.