Li Auto (NASDAQ:LI) Shares Gap Up - Here's What Happened

Li Auto Inc. (NASDAQ:LI - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $24.02, but opened at $24.82. Li Auto shares last traded at $24.47, with a volume of 646,796 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Macquarie reiterated a "neutral" rating and issued a $33.00 price target (up from $25.00) on shares of Li Auto in a report on Friday, October 4th. Barclays boosted their price objective on shares of Li Auto from $22.00 to $31.00 and gave the company an "equal weight" rating in a research report on Monday, November 4th. Finally, Citigroup raised their target price on shares of Li Auto from $25.50 to $29.60 and gave the stock a "neutral" rating in a report on Monday, September 30th. Four equities 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $33.94.

Li Auto Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.64. The stock has a fifty day moving average price of $23.87 and a two-hundred day moving average price of $22.26. The company has a market cap of $26.26 billion, a P/E ratio of 18.33, a PEG ratio of 2.13 and a beta of 0.94.

Institutional Investors Weigh In On Li Auto

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new stake in Li Auto during the third quarter worth approximately $39,000. Venturi Wealth Management LLC acquired a new position in shares of Li Auto during the 3rd quarter valued at $50,000. BNP Paribas raised its stake in shares of Li Auto by 300.0% in the 3rd quarter. BNP Paribas now owns 2,000 shares of the company's stock worth $51,000 after buying an additional 1,500 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Li Auto by 708.5% in the third quarter. Avior Wealth Management LLC now owns 2,385 shares of the company's stock valued at $61,000 after buying an additional 2,090 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of Li Auto by 55.9% in the third quarter. Blue Trust Inc. now owns 3,043 shares of the company's stock valued at $78,000 after buying an additional 1,091 shares during the period. 9.88% of the stock is currently 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.