Li Auto (NASDAQ:LI) Shares Gap Down – Here’s What Happened

Li Auto Inc. Sponsored ADR (NASDAQ:LI)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $22.23, but opened at $21.45. Li Auto shares last traded at $21.92, with a volume of 1,451,271 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. BNP Paribas assumed coverage on Li Auto in a report on Monday, August 18th. They issued a “strong sell” rating on the stock. BNP Paribas Exane assumed coverage on Li Auto in a report on Monday, August 18th. They issued an “underperform” rating and a $18.00 target price on the stock. Macquarie lowered Li Auto from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $28.00 to $21.00 in a report on Friday, August 22nd. Bank of America lowered Li Auto from a “buy” rating to a “neutral” rating and set a $26.00 target price on the stock. in a report on Thursday, August 28th. Finally, CLSA raised Li Auto to a “strong-buy” rating in a report on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $25.79.

Li Auto Price Performance

The stock has a 50-day moving average price of $24.10 and a 200 day moving average price of $25.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.73 and a quick ratio of 1.57. The firm has a market cap of $22.95 billion, a price-to-earnings ratio of 20.88 and a beta of 1.01.

Institutional Trading of Li Auto

Hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its holdings in shares of Li Auto by 9.6% during the first quarter. PNC Financial Services Group Inc. now owns 6,134 shares of the company’s stock worth $155,000 after buying an additional 538 shares during the last quarter. US Bancorp DE grew its holdings in shares of Li Auto by 9.0% during the first quarter. US Bancorp DE now owns 10,255 shares of the company’s stock worth $258,000 after buying an additional 844 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Li Auto by 1.0% during the second quarter. Tidal Investments LLC now owns 88,772 shares of the company’s stock worth $2,407,000 after buying an additional 856 shares during the last quarter. Corient Private Wealth LLC grew its holdings in shares of Li Auto by 8.6% during the second quarter. Corient Private Wealth LLC now owns 11,955 shares of the company’s stock worth $324,000 after buying an additional 951 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Li Auto during the second quarter worth about $27,000. 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.