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

Li Auto Inc. (NASDAQ:LI) gapped up prior to trading 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 trading hands.

Analysts Set New Price Targets

Several brokerages have recently commented on LI. Barclays reduced their target price on Li Auto from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 21st. JPMorgan Chase & Co. decreased their price objective on Li Auto from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Bank of America lifted their price target on shares of Li Auto from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Citigroup cut Li Auto from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 4th. Finally, Morgan Stanley reduced their price objective on Li Auto from $65.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, May 21st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.36.

Li Auto Trading Up 10.6 %

The firm has a 50 day moving average of $19.74 and a 200 day moving average of $23.94. The firm has a market cap of $22.36 billion, a PE ratio of 13.87, a P/E/G ratio of 1.78 and a beta of 0.96. The company has a quick ratio of 1.63, a current ratio of 1.76 and a debt-to-equity ratio of 0.14.

Institutional Trading of Li Auto

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Li Auto by 58.7% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company’s stock valued at $28,000 after buying an additional 573 shares in the last quarter. Blue Trust Inc. increased its position in Li Auto by 1,707.4% during the second quarter. Blue Trust Inc. now owns 1,952 shares of the company’s stock valued at $35,000 after acquiring an additional 1,844 shares during the last quarter. Scarborough Advisors LLC purchased a new position in shares of Li Auto in the fourth quarter worth approximately $41,000. Barometer Capital Management Inc. bought a new stake in shares of Li Auto during the 4th quarter valued at $135,000. Finally, QRG Capital Management Inc. raised its stake in shares of Li Auto by 58.5% in the second quarter. QRG Capital Management Inc. now owns 11,731 shares of the company’s stock worth $210,000 after buying an additional 4,331 shares during the period. Hedge funds and other institutional investors 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.