Li Auto (NASDAQ:LI) Shares Gap Up to $19.05

Li Auto Inc. (NASDAQ:LI)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $19.05, but opened at $20.21. Li Auto shares last traded at $20.80, with a volume of 2,987,293 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LI shares. Bank of America increased their price objective on Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Citigroup downgraded shares of Li Auto from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Li Auto from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.36.

Li Auto Stock Performance

The company has a fifty day moving average of $19.76 and a two-hundred day moving average of $23.76. The firm has a market capitalization of $22.03 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 1.78 and a beta of 0.96. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 1.76.

Institutional Investors Weigh In On Li Auto

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Brilliance Asset Management Ltd. boosted its stake in shares of Li Auto by 6.9% in the fourth quarter. Brilliance Asset Management Ltd. now owns 4,639,798 shares of the company’s stock valued at $173,668,000 after buying an additional 299,531 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Li Auto during the second quarter worth $21,626,000. Franchise Capital Ltd boosted its holdings in shares of Li Auto by 163.2% in the 4th quarter. Franchise Capital Ltd now owns 975,250 shares of the company’s stock valued at $36,504,000 after purchasing an additional 604,773 shares in the last quarter. SIH Partners LLLP increased its stake in shares of Li Auto by 508.2% in the 1st quarter. SIH Partners LLLP now owns 890,900 shares of the company’s stock valued at $26,976,000 after purchasing an additional 744,419 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Li Auto by 20.5% during the 2nd quarter. American Century Companies Inc. now owns 726,684 shares of the company’s stock worth $12,993,000 after buying an additional 123,838 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.