Li Auto (NASDAQ:LI) Shares Gap Up – Still a Buy?

Shares of Li Auto Inc. (NASDAQ:LI) gapped up prior to trading on Tuesday . The stock had previously closed at $27.35, but opened at $28.50. Li Auto shares last traded at $27.44, with a volume of 1,868,311 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LI. JPMorgan Chase & Co. upgraded shares of Li Auto from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $22.00 to $40.00 in a research report on Friday, February 28th. Macquarie lowered Li Auto from an “outperform” rating to a “neutral” rating and set a $27.00 target price for the company. in a research note on Monday. Finally, HSBC set a $38.50 price objective on Li Auto and gave the stock a “buy” rating in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Li Auto has an average rating of “Moderate Buy” and a consensus target price of $35.73.

Li Auto Stock Down 0.4 %

The firm’s 50 day moving average is $25.76 and its two-hundred day moving average is $24.53. The firm has a market cap of $29.20 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 3.27 and a beta of 0.86. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13.

Institutional Investors Weigh In On Li Auto

Institutional investors have recently bought and sold shares of the company. Aspex Management HK Ltd lifted its stake in Li Auto by 55.0% in the 3rd quarter. Aspex Management HK Ltd now owns 10,643,926 shares of the company’s stock valued at $273,017,000 after purchasing an additional 3,778,463 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Li Auto by 1.3% during the 4th quarter. Renaissance Technologies LLC now owns 7,800,639 shares of the company’s stock worth $187,137,000 after acquiring an additional 99,539 shares during the period. FMR LLC raised its stake in Li Auto by 422.4% in 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. Brilliance Asset Management Ltd. lifted its holdings in 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 purchasing an additional 24,416 shares during the last quarter. Finally, RWC Asset Advisors US LLC boosted its position in Li Auto by 20.0% during the fourth quarter. RWC Asset Advisors US LLC now owns 3,181,050 shares of the company’s stock worth $76,313,000 after purchasing an additional 530,390 shares during the period. 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.