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

Li Auto Inc. (NASDAQ:LI - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $23.75, but opened at $25.28. Li Auto shares last traded at $25.05, with a volume of 2,575,112 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective 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. Citigroup boosted their price target on shares of Li Auto from $25.50 to $29.60 and gave the stock a "neutral" rating in a research note on Monday, September 30th. Bank of America increased their price target on shares of Li Auto from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. Finally, Macquarie reaffirmed a "neutral" rating and issued a $33.00 price objective (up previously from $25.00) on shares of Li Auto in a report on Friday, October 4th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $32.66.

Li Auto Stock Up 6.3 %

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.76 and a quick ratio of 1.63. The company has a market capitalization of $26.79 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 2.54 and a beta of 0.98. The firm's 50-day simple moving average is $22.53 and its two-hundred day simple moving average is $22.58.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Blue Trust Inc. grew its holdings in Li Auto by 55.9% during the 3rd 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 last quarter. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of Li Auto in the third quarter valued at $195,000. Creative Planning boosted its stake in shares of Li Auto by 39.4% during the third quarter. Creative Planning now owns 23,751 shares of the company's stock valued at $609,000 after acquiring an additional 6,712 shares during the last quarter. SG Americas Securities LLC increased its position in Li Auto by 806.4% during the 3rd quarter. SG Americas Securities LLC now owns 167,407 shares of the company's stock worth $4,294,000 after purchasing an additional 148,937 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Li Auto by 1,059.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 25,028 shares of the company's stock valued at $447,000 after purchasing an additional 22,869 shares during the last quarter. 9.88% of the stock is owned by hedge funds and other 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.