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

Li Auto Inc. (NASDAQ:LI)’s share price 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 changing hands.

Analyst Upgrades and Downgrades

LI has been the subject of several research analyst reports. Citigroup lifted their price objective on Li Auto from $25.50 to $29.60 and gave the stock a “neutral” rating in a report on Monday, September 30th. JPMorgan Chase & Co. decreased their price objective on shares of Li Auto from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Barclays increased their price objective on shares of Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Macquarie reaffirmed a “neutral” rating and issued a $33.00 target price (up previously from $25.00) on shares of Li Auto in a research report on Friday, October 4th. Finally, Bank of America boosted their target price on shares of Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Li Auto presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.94.

Li Auto Stock Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.64 and a current ratio of 1.76. The stock has a market cap of $23.55 billion, a P/E ratio of 16.44, a P/E/G ratio of 2.18 and a beta of 0.94. The business’s 50-day moving average price is $24.63 and its 200-day moving average price is $21.88.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new stake in Li Auto during the 3rd quarter worth approximately $39,000. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Li Auto by 58.7% during 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 during the period. Venturi Wealth Management LLC bought a new stake in shares of Li Auto during the 3rd quarter valued at $50,000. Blue Trust Inc. lifted its stake 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 buying an additional 1,844 shares in the last quarter. Finally, BNP Paribas boosted its holdings in Li Auto by 300.0% in the 3rd quarter. BNP Paribas now owns 2,000 shares of the company’s stock worth $51,000 after buying an additional 1,500 shares during the period. 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.