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

Li Auto Inc. (NASDAQ:LI) shares gapped down before the market opened on Friday . The stock had previously closed at $22.79, but opened at $22.06. Li Auto shares last traded at $22.07, with a volume of 472,838 shares trading hands.

Analyst Upgrades and Downgrades

LI has been the subject of several recent analyst reports. Macquarie restated a “neutral” rating and issued a $33.00 price target (up from $25.00) on shares of Li Auto in a research note on Friday, October 4th. JPMorgan Chase & Co. dropped 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. Citigroup raised their target price on shares of Li Auto from $25.50 to $29.60 and gave the company a “neutral” rating in a research note on Monday, September 30th. Barclays boosted their price target on shares of Li Auto from $22.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Finally, Bank of America raised 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. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Li Auto presently has an average rating of “Moderate Buy” and an average target price of $33.94.

Li Auto Price Performance

The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $24.63 and its 200-day moving average price is $21.88. The stock has a market capitalization of $23.55 billion, a PE ratio of 16.44, a PEG ratio of 2.18 and a beta of 0.94.

Hedge Funds Weigh In On Li Auto

Large investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. boosted its position in 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 buying an additional 573 shares during the period. Blue Trust Inc. increased its position in shares of Li Auto by 1,707.4% during the second quarter. Blue Trust Inc. now owns 1,952 shares of the company’s stock worth $35,000 after acquiring an additional 1,844 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Li Auto during the third quarter valued at approximately $39,000. Venturi Wealth Management LLC purchased a new stake in shares of Li Auto in the third quarter valued at approximately $50,000. Finally, BNP Paribas grew its stake in Li Auto by 300.0% in the third quarter. BNP Paribas now owns 2,000 shares of the company’s stock worth $51,000 after purchasing an additional 1,500 shares in the last quarter. 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.