Li Auto (NASDAQ:LI) Shares Gap Down – Should You Sell?

Shares of Li Auto Inc. (NASDAQ:LI) gapped down before the market opened on Wednesday . The stock had previously closed at $24.25, but opened at $23.32. Li Auto shares last traded at $23.32, with a volume of 704,797 shares traded.

Analyst Upgrades and Downgrades

Separately, Barclays lifted their price objective 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. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $33.94.

Li Auto Stock Down 3.2 %

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 company has a market capitalization of $24.89 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 1.31 and a beta of 0.92. The business’s 50 day simple moving average is $23.26 and its 200 day simple moving average is $22.87.

Hedge Funds Weigh In On Li Auto

A number of large investors have recently made changes to their positions in LI. Allspring Global Investments Holdings LLC acquired a new position in shares of Li Auto in the 3rd quarter valued at about $39,000. Venturi Wealth Management LLC acquired a new position in Li Auto in the third quarter worth approximately $50,000. BNP Paribas increased its holdings in Li Auto by 300.0% in the third quarter. BNP Paribas now owns 2,000 shares of the company’s stock worth $51,000 after buying an additional 1,500 shares during the last quarter. Avior Wealth Management LLC increased its holdings in Li Auto by 708.5% in the third quarter. Avior Wealth Management LLC now owns 2,385 shares of the company’s stock worth $61,000 after buying an additional 2,090 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Li Auto by 55.9% in the third quarter. Blue Trust Inc. now owns 3,043 shares of the company’s stock worth $78,000 after buying an additional 1,091 shares during the last quarter. Institutional investors and hedge funds 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.