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

Li Auto Inc. (NASDAQ:LI) gapped down before the market opened on Thursday . The stock had previously closed at $25.06, but opened at $24.27. Li Auto shares last traded at $23.99, with a volume of 1,001,800 shares traded.

Analyst Ratings Changes

Several research firms recently weighed in on LI. Macquarie restated 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, October 4th. Citigroup boosted 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. Bank of America increased their target price on shares of Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, 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 report on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Li Auto has a consensus rating of “Moderate Buy” and a consensus target price of $32.66.

Li Auto Trading 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 business’s 50 day simple moving average is $22.53 and its 200 day simple moving average is $22.58. 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.

Li Auto (NASDAQ:LI) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.14 earnings per share 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. Research analysts anticipate that Li Auto Inc. will post 1.04 EPS for the current year.

Institutional Trading of Li Auto

Hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in Li Auto in the third quarter worth $39,000. 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 valued at $28,000 after purchasing an additional 573 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Li Auto by 1,707.4% in the second quarter. Blue Trust Inc. now owns 1,952 shares of the company’s stock valued at $35,000 after purchasing an additional 1,844 shares during the period. Ballentine Partners LLC boosted its holdings in Li Auto by 20.6% during the first quarter. Ballentine Partners LLC now owns 7,199 shares of the company’s stock worth $218,000 after buying an additional 1,232 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Li Auto during the first quarter worth about $219,000. Institutional investors and hedge funds own 9.88% of the company’s stock.

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.