Li Auto (NASDAQ:LI) Shares Gap Up - Time to Buy?

Li Auto Inc. (NASDAQ:LI - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $27.40, but opened at $28.55. Li Auto shares last traded at $28.67, with a volume of 1,609,009 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on LI shares. Bank of America boosted their price objective on Li Auto from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. Citigroup raised their price objective on shares of Li Auto from $25.50 to $29.60 and gave the company a "neutral" rating in a research report on Monday, September 30th. JPMorgan Chase & Co. cut their target price on shares of Li Auto from $21.00 to $19.00 and set a "neutral" rating for the company in a research report on Thursday, August 29th. Finally, Macquarie restated a "neutral" rating and set a $33.00 price target (up previously from $25.00) on shares of Li Auto in a research report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the 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 Price Performance

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 business has a 50-day simple moving average of $23.11 and a 200 day simple moving average of $22.47. The firm has a market cap of $30.55 billion, a P/E ratio of 21.50, a price-to-earnings-growth ratio of 5.33 and a beta of 0.98.

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 (EPS) for the quarter. The company had revenue of $4.36 billion during the quarter. Li Auto had a net margin of 7.65% and a return on equity of 13.70%. On average, analysts anticipate that Li Auto Inc. will post 1.04 earnings per share for the current fiscal year.

Institutional Trading of Li Auto

A number of institutional investors and hedge funds have recently bought and sold shares of LI. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Li Auto by 58.7% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company's stock worth $28,000 after purchasing an additional 573 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of 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 acquiring an additional 1,844 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Li Auto in the third quarter worth approximately $39,000. JTC Employer Solutions Trustee Ltd bought a new position in Li Auto during the third quarter valued at approximately $195,000. Finally, QRG Capital Management Inc. lifted its holdings in shares of Li Auto by 58.5% during the 2nd quarter. QRG Capital Management Inc. now owns 11,731 shares of the company's stock valued at $210,000 after buying an additional 4,331 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.