Li Auto (NASDAQ:LI) Shares Gap Down to $17.57

Li Auto Inc. (NASDAQ:LIGet Rating)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $17.57, but opened at $17.08. Li Auto shares last traded at $16.55, with a volume of 77,240 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Barclays lowered their target price on Li Auto from $40.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, October 28th. CLSA started coverage on Li Auto in a research report on Monday, August 8th. They issued a “buy” rating for the company. Finally, TheStreet lowered Li Auto from a “c” rating to a “d+” rating in a research report on Monday, September 12th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Li Auto presently has an average rating of “Buy” and an average target price of $40.60.

Li Auto Price Performance

The stock has a market cap of $18.06 billion, a P/E ratio of -346.53 and a beta of 0.26. The company has a 50 day simple moving average of $19.86 and a 200 day simple moving average of $27.01. The company has a current ratio of 3.25, a quick ratio of 3.08 and a debt-to-equity ratio of 0.19.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors increased its holdings in shares of Li Auto by 584.1% during the 1st quarter. Captrust Financial Advisors now owns 1,074 shares of the company’s stock worth $28,000 after acquiring an additional 917 shares during the last quarter. Elequin Capital LP bought a new stake in Li Auto in the 1st quarter valued at $32,000. CoreCap Advisors LLC bought a new stake in Li Auto in the 2nd quarter valued at $54,000. Prospera Financial Services Inc bought a new stake in Li Auto in the 1st quarter valued at $65,000. Finally, Activest Wealth Management boosted its stake in Li Auto by 103.3% in the 3rd quarter. Activest Wealth Management now owns 2,952 shares of the company’s stock valued at $68,000 after purchasing an additional 1,500 shares during the period. Institutional investors and hedge funds own 21.99% of the company’s stock.

Li Auto Company Profile

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Li Auto Inc, through its subsidiaries, designs, develops, manufactures, and sells new energy vehicles in the People's Republic of China. The company provides Li ONE, a six-seat smart electric sport utility vehicle that is equipped with smart vehicle solutions, navigation on ADAS, and automatic emergency breaking functionalities.

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