Li Auto (NASDAQ:LI) Shares Gap Down – What’s Next?

Shares of Li Auto Inc. (NASDAQ:LI) gapped down prior to trading on Tuesday . The stock had previously closed at $23.85, but opened at $23.18. Li Auto shares last traded at $23.14, with a volume of 365,959 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Macquarie lowered Li Auto from an “outperform” rating to a “neutral” rating and set a $27.00 target price on the stock. in a report on Monday, March 17th. Cfra Research upgraded shares of Li Auto to a “strong sell” rating in a report on Friday, March 21st. JPMorgan Chase & Co. raised shares of Li Auto from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $22.00 to $40.00 in a research report on Friday, February 28th. HSBC set a $38.50 target price on shares of Li Auto and gave the stock a “buy” rating in a research note on Thursday, March 6th. Finally, Nomura Securities upgraded Li Auto to a “hold” rating in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Li Auto currently has an average rating of “Hold” and a consensus price target of $35.73.

Li Auto Price Performance

The stock has a market cap of $24.38 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 3.27 and a beta of 0.94. 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 company has a 50-day simple moving average of $26.19 and a two-hundred day simple moving average of $24.98.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC lifted its holdings in Li Auto by 1.3% during the 4th quarter. Renaissance Technologies LLC now owns 7,800,639 shares of the company’s stock valued at $187,137,000 after purchasing an additional 99,539 shares during the last quarter. Brilliance Asset Management Ltd. raised its position in shares of Li Auto by 0.7% in the fourth quarter. Brilliance Asset Management Ltd. now owns 3,508,642 shares of the company’s stock valued at $84,172,000 after purchasing an additional 24,416 shares during the period. RWC Asset Advisors US LLC lifted its stake in shares of Li Auto by 20.0% during the 4th quarter. RWC Asset Advisors US LLC now owns 3,181,050 shares of the company’s stock worth $76,313,000 after buying an additional 530,390 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Li Auto by 14.9% during the 4th quarter. American Century Companies Inc. now owns 1,005,524 shares of the company’s stock worth $24,123,000 after buying an additional 130,598 shares during the period. Finally, LMR Partners LLP acquired a new position in Li Auto in the 4th quarter valued at about $16,266,000. 9.88% of the stock is currently owned by institutional investors and hedge funds.

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.