Li Auto (NASDAQ:LI) Shares Gap Up – Still a Buy?

Li Auto Inc. (NASDAQ:LI)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $24.44, but opened at $25.51. Li Auto shares last traded at $26.00, with a volume of 2,947,401 shares changing hands.

Analyst Ratings Changes

A number of research firms have recently commented on LI. Macquarie reaffirmed a “neutral” rating and set a $33.00 price target (up previously from $25.00) on shares of Li Auto in a research report on Friday, October 4th. Barclays raised their target price on shares of Li Auto from $22.00 to $31.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Finally, Citigroup upped their price target on shares of Li Auto from $25.50 to $29.60 and gave the company a “neutral” rating in a report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.94.

Li Auto Trading Up 0.7 %

The stock has a market cap of $27.05 billion, a price-to-earnings ratio of 18.88, a P/E/G ratio of 2.13 and a beta of 0.94. The business has a 50-day simple moving average of $24.06 and a two-hundred day simple moving average of $22.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.64 and a current ratio of 1.76.

Institutional Investors Weigh In On Li Auto

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC grew its stake in Li Auto by 269.7% in the third quarter. Virtu Financial LLC now owns 55,908 shares of the company’s stock valued at $1,434,000 after purchasing an additional 40,785 shares in the last quarter. Barclays PLC boosted its holdings in shares of Li Auto by 41.8% in the 3rd quarter. Barclays PLC now owns 602,028 shares of the company’s stock valued at $15,442,000 after buying an additional 177,414 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Li Auto in the third quarter valued at $903,000. XTX Topco Ltd acquired a new position in Li Auto during the third quarter worth $1,153,000. Finally, Quantinno Capital Management LP bought a new stake in Li Auto during the third quarter worth $343,000. 9.88% of the stock is owned by institutional investors.

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.