Li Auto (NASDAQ:LI) Shares Gap Up After Analyst Upgrade

Shares of Li Auto Inc. (NASDAQ:LI) gapped up prior to trading on Monday after Citigroup raised their price target on the stock from $25.50 to $29.60. The stock had previously closed at $25.78, but opened at $27.79. Citigroup currently has a neutral rating on the stock. Li Auto shares last traded at $27.47, with a volume of 3,100,497 shares traded.

Several other equities research analysts have also recently issued reports on LI. Bank of America raised their target price on shares of Li Auto from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. dropped their target price on shares of Li Auto from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Li Auto has a consensus rating of “Moderate Buy” and an average target price of $33.66.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Li Auto by 58.7% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company’s stock valued at $28,000 after purchasing an additional 573 shares during the period. Blue Trust Inc. raised its position in shares of Li Auto by 1,707.4% during the 2nd quarter. Blue Trust Inc. now owns 1,952 shares of the company’s stock valued at $35,000 after purchasing an additional 1,844 shares during the period. Scarborough Advisors LLC bought a new stake in shares of Li Auto during the 4th quarter valued at $41,000. Barometer Capital Management Inc. bought a new stake in shares of Li Auto during the 4th quarter valued at $135,000. Finally, QRG Capital Management Inc. raised its position in shares of Li Auto by 58.5% during the 2nd quarter. QRG Capital Management Inc. now owns 11,731 shares of the company’s stock valued at $210,000 after purchasing an additional 4,331 shares during the period. Hedge funds and other institutional investors own 9.88% of the company’s stock.

Li Auto Stock Up 11.5 %

The stock has a market capitalization of $30.34 billion, a P/E ratio of 19.07 and a beta of 0.96. The company’s 50-day moving average price is $20.45 and its 200 day moving average price is $22.83. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 1.76.

Li Auto (NASDAQ:LI) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.14 EPS for the quarter. The firm had revenue of $4.36 billion for the quarter. Li Auto had a net margin of 7.65% and a return on equity of 13.70%.

About Li Auto

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.