Li Auto (NASDAQ:LI) Shares Gap Down – Time to Sell?

Li Auto Inc. (NASDAQ:LI)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $30.73, but opened at $28.42. Li Auto shares last traded at $27.57, with a volume of 3,596,617 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on LI shares. Barclays increased their price objective on Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Macquarie raised Li Auto from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. upgraded Li Auto from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $22.00 to $40.00 in a research note on Friday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.27.

Li Auto Stock Down 10.8 %

The firm has a 50-day moving average price of $24.76 and a two-hundred day moving average price of $23.85. The firm has a market cap of $29.07 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 3.27 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.64 and a current ratio of 1.76.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new position in Li Auto in the third quarter valued at $39,000. Venturi Wealth Management LLC purchased a new stake in shares of Li Auto in the 3rd quarter valued at about $50,000. BNP Paribas boosted its position in shares of Li Auto by 300.0% in the 3rd quarter. BNP Paribas now owns 2,000 shares of the company’s stock valued at $51,000 after purchasing an additional 1,500 shares during the period. Avior Wealth Management LLC grew its stake in Li Auto by 708.5% during the 3rd quarter. Avior Wealth Management LLC now owns 2,385 shares of the company’s stock worth $61,000 after buying an additional 2,090 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in Li Auto by 16.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the company’s stock worth $84,000 after buying an additional 500 shares during the period. 9.88% of the stock is owned by hedge funds and other institutional investors.

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.