Li Auto (NASDAQ:LI) Shares Gap Up - Here's What Happened

Key Points

• Li Auto shares opened at $26.26, a gap up from the previous close of $25.43, indicating an interest from investors with over 906,780 shares traded.
• Analyst ratings for Li Auto are mixed, with Macquarie and BNP Paribas Exane downgrading their outlook, while Daiwa America upgraded the stock to "strong-buy," reflecting varying confidence levels among financial analysts.
• The company's current ratio stands at 1.73 and it has a market cap of $27.25 billion, highlighting financial stability even amidst fluctuating stock ratings.

Shares of Li Auto Inc. Sponsored ADR (NASDAQ:LI - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $25.43, but opened at $26.26. Li Auto shares last traded at $26.12, with a volume of 906,780 shares.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Macquarie lowered Li Auto from a "neutral" rating to an "underperform" rating and decreased their price objective for the stock from $28.00 to $21.00 in a report on Friday, August 22nd. Bank of America lowered Li Auto from a "buy" rating to a "neutral" rating and set a $26.00 price objective for the company. in a report on Thursday, August 28th. BNP Paribas Exane initiated coverage on Li Auto in a research report on Monday, August 18th. They set an "underperform" rating and a $18.00 target price on the stock. Daiwa America upgraded Li Auto to a "strong-buy" rating in a research report on Wednesday, September 3rd. Finally, Dbs Bank downgraded Li Auto from a "moderate buy" rating to a "hold" rating in a research report on Friday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $26.26.

Li Auto Stock Performance

The company has a current ratio of 1.73, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm has a market cap of $27.25 billion, a P/E ratio of 24.84 and a beta of 0.97. The business's fifty day simple moving average is $25.56 and its 200-day simple moving average is $26.18.

Institutional Trading of Li Auto

Several large investors have recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in Li Auto in the first quarter worth about $296,000. American Century Companies Inc. raised its holdings in Li Auto by 14.4% in the 1st quarter. American Century Companies Inc. now owns 1,150,819 shares of the company's stock worth $29,001,000 after acquiring an additional 145,295 shares during the last quarter. Kestra Private Wealth Services LLC purchased a new position in Li Auto in the 1st quarter worth approximately $226,000. Hsbc Holdings PLC grew its position in Li Auto by 339.6% in the 1st quarter. Hsbc Holdings PLC now owns 287,291 shares of the company's stock worth $7,223,000 after purchasing an additional 221,939 shares during the period. Finally, Ariose Capital Management Ltd bought a new stake in shares of Li Auto during the 1st quarter valued at $5,395,000. 9.88% of the stock is owned by institutional investors.

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.

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