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

Shares of Li Auto Inc. (NASDAQ:LI) gapped down before the market opened on Friday . The stock had previously closed at $22.79, but opened at $22.06. Li Auto shares last traded at $22.07, with a volume of 472,838 shares changing hands.

Wall Street Analysts Forecast Growth

LI has been the subject of a number of recent analyst reports. Bank of America lifted their target price on Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Barclays lifted their price target 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. Citigroup lifted their price target on Li Auto from $25.50 to $29.60 and gave the company a “neutral” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. dropped their price target on Li Auto from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Finally, Macquarie reiterated 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. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Li Auto currently has a consensus rating of “Moderate Buy” and an average price target of $33.94.

Li Auto Stock Down 3.2 %

The stock has a 50-day moving average of $24.78 and a two-hundred day moving average of $21.86. The company has a market cap of $23.40 billion, a P/E ratio of 16.25, a P/E/G ratio of 2.18 and a beta of 0.94. 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 Trading of Li Auto

Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of Li Auto during the third quarter valued at approximately $39,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Li Auto by 58.7% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company’s stock valued at $28,000 after acquiring an additional 573 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of Li Auto during the third quarter valued at approximately $50,000. Blue Trust Inc. raised its holdings in shares of 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 in the last quarter. Finally, BNP Paribas raised its holdings in shares of Li Auto by 300.0% during the third quarter. BNP Paribas now owns 2,000 shares of the company’s stock valued at $51,000 after acquiring an additional 1,500 shares in the last quarter. 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.