Li Auto (NASDAQ:LI) Shares Gap Down - Time to Sell?

Li Auto Inc. (NASDAQ:LI - Get Free Report)'s stock price gapped down before the market opened on Thursday . The stock had previously closed at $28.94, but opened at $26.55. Li Auto shares last traded at $25.63, with a volume of 3,876,800 shares.

Analyst Upgrades and Downgrades

LI has been the topic of a number of research analyst reports. Citigroup increased their price objective on shares of Li Auto from $25.50 to $29.60 and gave the stock a "neutral" rating in a research report on Monday, September 30th. Macquarie reaffirmed a "neutral" rating and issued a $33.00 price objective (up from $25.00) on shares of Li Auto in a report on Friday, October 4th. Bank of America raised 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. Finally, JPMorgan Chase & Co. decreased their target price on shares of Li Auto from $21.00 to $19.00 and set a "neutral" rating on the stock in a research report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Li Auto presently has an average rating of "Moderate Buy" and an average price target of $32.66.

Li Auto Trading Down 13.6 %

The business's 50-day moving average is $23.82 and its two-hundred day moving average is $22.37. 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 stock has a market capitalization of $26.54 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 5.33 and a beta of 0.98.

Li Auto (NASDAQ:LI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.14 EPS for the quarter. Li Auto had a return on equity of 13.70% and a net margin of 7.65%. The company had revenue of $4.36 billion during the quarter. As a group, equities research analysts anticipate that Li Auto Inc. will post 1.04 earnings per share for the current year.

Institutional Investors Weigh In On Li Auto

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ground Swell Capital LLC bought a new position in shares of Li Auto during the 3rd quarter worth approximately $231,000. Van ECK Associates Corp lifted its holdings in shares of Li Auto by 4.3% in the third quarter. Van ECK Associates Corp now owns 219,995 shares of the company's stock valued at $5,955,000 after purchasing an additional 9,008 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Li Auto by 43.8% during the third quarter. Janney Montgomery Scott LLC now owns 43,137 shares of the company's stock worth $1,106,000 after acquiring an additional 13,139 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Li Auto by 12.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 35,000 shares of the company's stock valued at $898,000 after buying an additional 4,000 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Li Auto by 2,556.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,630,537 shares of the company's stock worth $93,503,000 after purchasing an additional 3,493,881 shares during the period. 9.88% of the stock is owned by hedge funds and other institutional investors.

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.