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

Li Auto Inc. Sponsored ADR (NASDAQ:LI)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $11.70, but opened at $11.98. Li Auto shares last traded at $11.9210, with a volume of 408,644 shares changing hands.

Analysts Set New Price Targets

LI has been the topic of a number of recent analyst reports. Bank of America reiterated a “neutral” rating and set a $18.00 target price on shares of Li Auto in a research report on Thursday, May 28th. HSBC reduced their price objective on shares of Li Auto from $17.20 to $15.60 and set a “hold” rating for the company in a research report on Wednesday, June 10th. Piper Sandler dropped their target price on shares of Li Auto from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, August 27th. Wall Street Zen cut shares of Li Auto from a “sell” rating to a “strong sell” rating in a research note on Sunday, September 6th. Finally, Zacks Research downgraded shares of Li Auto from a “hold” rating to a “strong sell” rating in a research report on Friday, August 28th. Ten equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $16.28.

Li Auto Trading Up 1.0%

The company’s 50 day moving average price is $12.40 and its two-hundred day moving average price is $14.78. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.81 and a quick ratio of 1.65. The stock has a market capitalization of $11.66 billion, a PE ratio of -17.63 and a beta of 0.55.

Li Auto (NASDAQ:LI) last posted its quarterly earnings results on Friday, July 31st. The company reported ($0.22) earnings per share for the quarter. Li Auto had a negative return on equity of 6.58% and a negative net margin of 4.44%.The business had revenue of $3.78 billion for the quarter. As a group, analysts expect that Li Auto Inc. Sponsored ADR will post -0.28 earnings per share for the current year.

Institutional Trading of Li Auto

Large investors have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. raised its position in Li Auto by 10.5% in the second quarter. QRG Capital Management Inc. now owns 17,003 shares of the company’s stock worth $200,000 after acquiring an additional 1,615 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Li Auto by 157.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,878 shares of the company’s stock worth $51,000 after purchasing an additional 1,762 shares in the last quarter. Leonteq Securities AG boosted its position in shares of Li Auto by 5.4% during the 1st quarter. Leonteq Securities AG now owns 37,878 shares of the company’s stock worth $675,000 after purchasing an additional 1,957 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Li Auto by 10.7% during the 2nd quarter. Tidal Investments LLC now owns 47,986 shares of the company’s stock worth $563,000 after purchasing an additional 4,650 shares during the period. Finally, Parallel Advisors LLC increased its holdings in shares of Li Auto by 530.5% in the 1st quarter. Parallel Advisors LLC now owns 8,915 shares of the company’s stock valued at $159,000 after purchasing an additional 7,501 shares in the last quarter. 9.88% of the stock is currently owned by hedge funds and other institutional investors.

Li Auto Company Profile

Li Auto Inc (NASDAQ: LI) is a Chinese new energy vehicle manufacturer that develops, manufactures and sells smart electric vehicles. The company has focused primarily on family-oriented vehicles, combining battery-electric powertrains with extended-range electric vehicle technology designed to provide additional driving range through an onboard engine-generator.

Li Auto’s product portfolio has included the Li ONE and the Li L-series of premium sport utility vehicles, including the L6, L7, L8 and L9.