Li Auto (NASDAQ:LI) Shares Gap Up – Should You Buy?

Li Auto Inc. (NASDAQ:LI)’s share price gapped up prior to trading 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 trading hands.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Bank of America lifted their target price on Li Auto from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. dropped their target price on Li Auto from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Macquarie reissued a “neutral” rating and issued a $33.00 price objective (up from $25.00) on shares of Li Auto in a research note on Friday, October 4th. Finally, Citigroup lifted their target price on shares of Li Auto from $25.50 to $29.60 and gave the company a “neutral” rating in a report on Monday, September 30th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.66.

Li Auto Stock Performance

The company has a market capitalization of $30.80 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 2.54 and a beta of 0.98. 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’s fifty day simple moving average is $23.11 and its 200-day simple moving average is $22.47.

Li Auto (NASDAQ:LI) last released its earnings results 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 firm had revenue of $4.36 billion for the quarter. As a group, equities analysts predict that Li Auto Inc. will post 1.04 earnings per share for the current year.

Institutional Investors Weigh In On Li Auto

A number of large investors have recently modified their holdings of LI. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Li Auto by 58.7% in the second 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 last quarter. Blue Trust Inc. lifted its stake in 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 purchasing an additional 1,844 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Li Auto in the third quarter worth $39,000. JTC Employer Solutions Trustee Ltd bought a new position in shares of Li Auto in the 3rd quarter worth about $195,000. Finally, QRG Capital Management Inc. boosted its stake in Li Auto by 58.5% in the second quarter. QRG Capital Management Inc. now owns 11,731 shares of the company’s stock valued at $210,000 after acquiring an additional 4,331 shares during the period. 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.