Li Auto (NASDAQ:LI) Shares Gap Up to $23.47

Shares of Li Auto Inc. (NASDAQ:LI) gapped up before the market opened on Friday . The stock had previously closed at $23.47, but opened at $25.41. Li Auto shares last traded at $24.82, with a volume of 3,821,954 shares traded.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Citigroup reduced their price objective on Li Auto from $57.30 to $48.50 and set a “buy” rating for the company in a research note on Friday, March 22nd. Macquarie initiated coverage on Li Auto in a research note on Monday, April 15th. They set an “outperform” rating and a $40.00 target price for the company. Morgan Stanley cut their target price on Li Auto from $74.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, March 25th. Barclays cut Li Auto from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $39.00 to $25.00 in a research note on Thursday. Finally, Bank of America cut their target price on Li Auto from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, March 18th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.36.

Li Auto Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.48. The stock has a 50 day moving average price of $32.95 and a two-hundred day moving average price of $33.73. The firm has a market capitalization of $26.57 billion, a price-to-earnings ratio of 16.15 and a beta of 1.04.

Li Auto (NASDAQ:LI) last released its earnings results on Monday, February 26th. The company reported $0.49 earnings per share (EPS) for the quarter. The firm had revenue of $5.88 billion during the quarter. Li Auto had a return on equity of 18.37% and a net margin of 9.44%. As a group, analysts expect that Li Auto Inc. will post 1.97 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. lifted its holdings in Li Auto by 3.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 14,458 shares of the company’s stock worth $515,000 after buying an additional 469 shares during the last quarter. Signaturefd LLC lifted its holdings in Li Auto by 7.1% during the 3rd quarter. Signaturefd LLC now owns 8,613 shares of the company’s stock worth $307,000 after buying an additional 569 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in Li Auto by 5.3% during the 4th quarter. Corient Private Wealth LLC now owns 12,664 shares of the company’s stock worth $474,000 after buying an additional 641 shares during the last quarter. CWM LLC lifted its holdings in Li Auto by 59.5% during the 3rd quarter. CWM LLC now owns 1,812 shares of the company’s stock worth $65,000 after buying an additional 676 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in Li Auto by 7.6% during the 4th quarter. Quadrant Capital Group LLC now owns 10,497 shares of the company’s stock worth $393,000 after buying an additional 745 shares during the last quarter. 9.88% of the stock is currently owned by hedge funds and other 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.