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 trading hands.

Analyst Upgrades and Downgrades

Separately, Barclays increased their price target on Li Auto from $22.00 to $31.00 and gave the company 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. According to MarketBeat.com, Li Auto 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 P/E ratio of 17.34, a PEG ratio of 1.31 and a beta of 0.92. The firm has a 50-day moving average price of $23.26 and a two-hundred day moving average price of $22.87.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LI. Allspring Global Investments Holdings LLC acquired a new position in Li Auto during the third quarter worth $39,000. Venturi Wealth Management LLC acquired a new position in Li Auto during the third quarter worth $50,000. BNP Paribas raised its stake in Li Auto by 300.0% during the third quarter. BNP Paribas now owns 2,000 shares of the company’s stock worth $51,000 after acquiring an additional 1,500 shares in the last quarter. Avior Wealth Management LLC raised its stake in Li Auto by 708.5% during the third quarter. Avior Wealth Management LLC now owns 2,385 shares of the company’s stock worth $61,000 after acquiring an additional 2,090 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Li Auto by 55.9% during the third quarter. Blue Trust Inc. now owns 3,043 shares of the company’s stock worth $78,000 after acquiring an additional 1,091 shares in the last quarter. 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.