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

Li Auto Inc. (NASDAQ:LI) 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 trading hands.

Analysts Set New Price Targets

LI has been the subject of a number of recent research reports. Macquarie raised Li Auto from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 6th. Barclays raised their target price on Li Auto from $22.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Li Auto presently has an average rating of “Moderate Buy” and a consensus price target of $32.77.

Li Auto Stock Up 5.8 %

The business has a 50 day simple moving average of $23.46 and a 200-day simple moving average of $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 firm has a market capitalization 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 Trading of Li Auto

A number of hedge funds and other institutional investors have recently modified their holdings of LI. Aspex Management HK Ltd boosted its holdings in 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 acquiring an additional 3,778,463 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in 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 acquiring an additional 3,493,881 shares during the period. FMR LLC boosted its holdings in 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 acquiring an additional 3,438,410 shares during the period. Ariose Capital Management Ltd purchased a new position in Li Auto during the 3rd quarter valued at about $18,099,000. Finally, RWC Asset Advisors US LLC boosted its holdings in 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 acquiring an additional 530,390 shares during the period. 9.88% of the stock is owned by institutional investors and hedge funds.

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.