Li Auto (NASDAQ:LI) Shares Gap Up to $21.98

Shares of Li Auto Inc. (NASDAQ:LI – Get Rating) gapped up before the market opened on Friday . The stock had previously closed at $21.98, but opened at $22.67. Li Auto shares last traded at $22.92, with a volume of 1,464,071 shares.

Analyst Upgrades and Downgrades

LI has been the topic of a number of recent research reports. CLSA lowered their target price on Li Auto from $49.00 to $31.00 in a research report on Thursday, December 15th. Barclays lifted their target price on Li Auto from $25.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, February 28th. Jefferies Financial Group began coverage on Li Auto in a research report on Monday, November 28th. They set a “buy” rating and a $20.66 price target on the stock. Citigroup boosted their price target on Li Auto from $48.00 to $51.50 and gave the stock a “buy” rating in a research report on Thursday, February 9th. Finally, DBS Vickers began coverage on Li Auto in a research report on Monday, November 28th. They set a “buy” rating on the stock. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $37.04.

Li Auto Stock Up 2.8 %

The firm’s fifty day moving average price is $23.67 and its 200-day moving average price is $21.80. The company has a market capitalization of $23.55 billion, a price-to-earnings ratio of -75.30 and a beta of 0.75. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.45 and a quick ratio of 2.20.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Li Auto by 3.2% in the third quarter. Vanguard Group Inc. now owns 19,781,600 shares of the company’s stock valued at $455,175,000 after purchasing an additional 621,085 shares during the period. Tiger Global Management LLC grew its holdings in Li Auto by 34.6% during the 3rd quarter. Tiger Global Management LLC now owns 17,211,345 shares of the company’s stock worth $396,033,000 after acquiring an additional 4,419,945 shares during the period. Renaissance Technologies LLC grew its holdings in Li Auto by 106.0% during the 3rd quarter. Renaissance Technologies LLC now owns 12,419,600 shares of the company’s stock worth $285,775,000 after acquiring an additional 6,390,700 shares during the period. Aspex Management HK Ltd grew its holdings in Li Auto by 13.6% during the 3rd quarter. Aspex Management HK Ltd now owns 8,233,910 shares of the company’s stock worth $189,462,000 after acquiring an additional 988,500 shares during the period. Finally, Brilliance Asset Management Ltd. grew its holdings in Li Auto by 4.4% during the 4th quarter. Brilliance Asset Management Ltd. now owns 7,708,862 shares of the company’s stock worth $157,261,000 after acquiring an additional 323,341 shares during the period. 20.97% of the stock is currently owned by institutional investors and hedge funds.

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.