Li Auto (NASDAQ:LI) Shares Gap Up – Here’s What Happened

Li Auto Inc. (NASDAQ:LI)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $25.07, but opened at $25.92. Li Auto shares last traded at $26.04, with a volume of 813,087 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LI shares. Barclays upped their price objective on 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 upgraded Li Auto from a “neutral” rating to an “outperform” rating in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.77.

Li Auto Trading Up 5.8 %

The company’s fifty day moving average is $23.46 and its two-hundred day moving average is $23.07. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.64 and a current ratio of 1.76. The company has a market cap of $28.14 billion, a price-to-earnings ratio of 19.60, a P/E/G ratio of 1.39 and a beta of 0.92.

Institutional Investors Weigh In On Li Auto

Several hedge funds have recently bought and sold shares of the stock. Aspex Management HK Ltd lifted its position in shares of Li Auto by 55.0% during the 3rd quarter. Aspex Management HK Ltd now owns 10,643,926 shares of the company’s stock valued at $273,017,000 after buying an additional 3,778,463 shares in the last quarter. FMR LLC lifted its position in shares of Li Auto by 422.4% during the 3rd quarter. FMR LLC now owns 4,252,398 shares of the company’s stock valued at $109,074,000 after buying an additional 3,438,410 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Li Auto by 2,556.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,630,537 shares of the company’s stock valued at $93,503,000 after buying an additional 3,493,881 shares in the last quarter. Brilliance Asset Management Ltd. lifted its position in shares of Li Auto by 0.7% during the 4th quarter. Brilliance Asset Management Ltd. now owns 3,508,642 shares of the company’s stock valued at $84,172,000 after buying an additional 24,416 shares in the last quarter. Finally, RWC Asset Advisors US LLC lifted its position in shares of Li Auto by 20.0% during the 4th quarter. RWC Asset Advisors US LLC now owns 3,181,050 shares of the company’s stock valued at $76,313,000 after buying an additional 530,390 shares in 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.