Li Auto (NASDAQ:LI) Shares Gap Down to $19.58

Li Auto Inc. (NASDAQ:LI) gapped down before the market opened on Thursday . The stock had previously closed at $19.58, but opened at $19.12. Li Auto shares last traded at $18.80, with a volume of 888,938 shares trading hands.

Wall Street Analyst Weigh In

LI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Li Auto from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Morgan Stanley cut their target price on shares of Li Auto from $65.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, May 21st. Barclays decreased their target price on shares of Li Auto from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 21st. Citigroup downgraded Li Auto from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 4th. Finally, Bank of America upped their price objective on Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.36.

Li Auto Trading Up 1.3 %

The company has a market capitalization of $20.29 billion, a P/E ratio of 12.75, a PEG ratio of 1.78 and a beta of 0.96. 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 fifty day moving average of $19.76 and a 200 day moving average of $24.43.

Institutional Investors Weigh In On Li Auto

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Li Auto during the 2nd quarter valued at approximately $21,626,000. SIH Partners LLLP raised its position in shares of Li Auto by 508.2% during the first quarter. SIH Partners LLLP now owns 890,900 shares of the company’s stock valued at $26,976,000 after buying an additional 744,419 shares during the last quarter. Franchise Capital Ltd boosted its position in shares of Li Auto by 163.2% during the fourth quarter. Franchise Capital Ltd now owns 975,250 shares of the company’s stock worth $36,504,000 after acquiring an additional 604,773 shares during the last quarter. FIFTHDELTA Ltd bought a new stake in Li Auto in the 1st quarter valued at $14,816,000. Finally, OLD Mission Capital LLC purchased a new position in shares of Li Auto during the fourth quarter valued at about $17,696,000. 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.