Li Auto (NASDAQ:LI) Shares Gap Up to $21.98

Li Auto Inc. (NASDAQ:LI – Get Rating) gapped up before the market opened on Friday . The stock had previously closed at $21.98, but opened at $22.67. Li Auto shares last traded at $22.92, with a volume of 1,464,071 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Li Auto in a report on Monday, November 28th. They set a “buy” rating and a $20.66 price objective for the company. CLSA lowered their price target on shares of Li Auto from $49.00 to $31.00 in a research note on Thursday, December 15th. DBS Vickers started coverage on shares of Li Auto in a research note on Monday, November 28th. They issued a “buy” rating for the company. HSBC boosted their price target on shares of Li Auto from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, March 3rd. Finally, Barclays boosted their price target on shares of Li Auto from $25.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 28th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $37.04.

Li Auto Price Performance

The business’s 50-day simple moving average is $23.67 and its 200-day simple moving average is $21.80. The stock has a market cap of $23.55 billion, a PE ratio of -75.30 and a beta of 0.75. The company has a quick ratio of 2.20, a current ratio of 2.45 and a debt-to-equity ratio of 0.20.

Hedge Funds Weigh In On Li Auto

Hedge funds have recently modified their holdings of the company. Rockefeller Capital Management L.P. increased its position in shares of Li Auto by 3.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 76,887 shares of the company’s stock valued at $1,568,000 after buying an additional 2,370 shares during the period. OLD Mission Capital LLC purchased a new position in shares of Li Auto during the fourth quarter valued at about $14,889,000. CoreView Capital Management Ltd increased its position in shares of Li Auto by 18.1% during the fourth quarter. CoreView Capital Management Ltd now owns 2,979,771 shares of the company’s stock valued at $60,787,000 after buying an additional 457,000 shares during the period. Point72 Middle East FZE purchased a new position in shares of Li Auto during the fourth quarter valued at about $1,517,000. Finally, CI Private Wealth LLC purchased a new position in shares of Li Auto during the fourth quarter valued at about $205,000. Hedge funds and other institutional investors own 20.97% of the company’s stock.

About Li Auto

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Li Auto Inc, through its subsidiaries, designs, develops, manufactures, and sells new energy vehicles in the People's Republic of China. The company provides Li ONE, a six-seat smart electric sport utility vehicle that is equipped with smart vehicle solutions, navigation on ADAS, and automatic emergency breaking functionalities.