Li Auto (NASDAQ:LI) Shares Gap Up - Should You Buy?

Li Auto Inc. (NASDAQ:LI - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $29.29, but opened at $30.46. Li Auto shares last traded at $30.31, with a volume of 6,483,107 shares traded.

Wall Street Analysts Forecast Growth

LI has been the topic of several recent analyst reports. Macquarie reissued a "neutral" rating and set a $33.00 target price (up previously from $25.00) on shares of Li Auto in a research note on Friday. JPMorgan Chase & Co. lowered 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. Citigroup upped their target price 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. Finally, Bank of America lifted 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. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Li Auto currently has a consensus rating of "Moderate Buy" and an average price target of $32.66.

Li Auto Stock Performance

The business's fifty day moving average is $21.07 and its two-hundred day moving average is $22.74. The stock has a market capitalization of $32.37 billion, a PE ratio of 20.37 and a beta of 0.98. The company has a quick ratio of 1.63, a current ratio of 1.76 and a debt-to-equity ratio of 0.14.

Li Auto (NASDAQ:LI - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $4.36 billion during the quarter.

Institutional Investors Weigh In On Li Auto

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC boosted its stake in Li Auto by 806.4% during the third quarter. SG Americas Securities LLC now owns 167,407 shares of the company's stock worth $4,294,000 after buying an additional 148,937 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Li Auto by 1,059.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 25,028 shares of the company's stock worth $447,000 after purchasing an additional 22,869 shares during the period. Susquehanna International Securities Ltd. bought a new position in Li Auto during the 2nd quarter valued at about $257,000. HITE Hedge Asset Management LLC bought a new stake in Li Auto in the second quarter worth about $478,000. Finally, Bank of Montreal Can purchased a new position in shares of Li Auto during the second quarter valued at approximately $2,041,000. 9.88% of the stock is owned by 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.