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

Li Auto Inc. (NASDAQ:LI - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $29.90, but opened at $28.72. Li Auto shares last traded at $29.34, with a volume of 3,078,773 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LI shares. Citigroup increased their price target on Li Auto from $25.50 to $29.60 and gave the stock a "neutral" rating in a research report on Monday. JPMorgan Chase & Co. dropped their target price on shares of Li Auto from $21.00 to $19.00 and set a "neutral" rating on the stock in a report on Thursday, August 29th. Finally, Bank of America boosted their price target on shares of Li Auto from $30.00 to $31.00 and gave the company a "buy" rating in a report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Li Auto currently has an average rating of "Moderate Buy" and a consensus target price of $33.66.

Li Auto Stock Down 3.6 %

The business's fifty day moving average price is $20.87 and its two-hundred day moving average price is $22.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 1.76. The firm has a market capitalization of $30.58 billion, a P/E ratio of 19.21 and a beta of 0.98.

Li Auto (NASDAQ:LI - Get Free Report) last posted its earnings results on Wednesday, August 28th. The company reported $0.14 EPS for the quarter. Li Auto had a net margin of 7.65% and a return on equity of 13.70%. The company had revenue of $4.36 billion during the quarter.

Institutional Trading of Li Auto

Several large investors have recently bought and sold shares of LI. Scarborough Advisors LLC acquired a new stake in shares of Li Auto during the fourth quarter worth $41,000. Harel Insurance Investments & Financial Services Ltd. lifted its position in Li Auto by 58.7% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company's stock worth $28,000 after acquiring an additional 573 shares during the period. Blue Trust Inc. grew its stake in Li Auto by 1,707.4% during the 2nd quarter. Blue Trust Inc. now owns 1,952 shares of the company's stock valued at $35,000 after purchasing an additional 1,844 shares during the last quarter. Barometer Capital Management Inc. acquired a new position in shares of Li Auto in the fourth quarter valued at about $135,000. Finally, Ballentine Partners LLC raised its stake in shares of Li Auto by 20.6% in the first quarter. Ballentine Partners LLC now owns 7,199 shares of the company's stock worth $218,000 after purchasing an additional 1,232 shares during the last quarter. Hedge funds and other 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.