Li Auto (NASDAQ:LI) Shares Gap Up to $28.41

Li Auto Inc. (NASDAQ:LI) shares gapped up prior to trading on Wednesday . The stock had previously closed at $28.41, but opened at $29.32. Li Auto shares last traded at $29.10, with a volume of 745,977 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LI. Citigroup reduced their price target on Li Auto from $57.30 to $48.50 and set a “buy” rating for the company in a report on Friday, March 22nd. Morgan Stanley reduced their price target on Li Auto from $74.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, March 25th. The Goldman Sachs Group began coverage on Li Auto in a report on Wednesday, January 3rd. They issued a “buy” rating for the company. Deutsche Bank Aktiengesellschaft raised Li Auto from a “hold” rating to a “buy” rating and reduced their price target for the company from $45.00 to $41.00 in a report on Tuesday, February 6th. Finally, Macquarie started coverage on Li Auto in a report on Monday. They set an “outperform” rating and a $40.00 target price on the stock. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $47.36.

Li Auto Trading Up 1.6 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.48 and a current ratio of 1.57. The business has a fifty day simple moving average of $33.65 and a 200 day simple moving average of $34.15. The company has a market cap of $30.96 billion, a P/E ratio of 18.83 and a beta of 1.04.

Li Auto (NASDAQ:LI) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.49 earnings per share (EPS) for the quarter. The business had revenue of $5.88 billion for the quarter. Li Auto had a return on equity of 18.37% and a net margin of 9.44%. Analysts anticipate that Li Auto Inc. will post 1.97 earnings per share for the current fiscal year.

Institutional Trading of Li Auto

Several hedge funds have recently made changes to their positions in the stock. Stifel Financial Corp lifted its holdings in shares of Li Auto by 3.5% in the 2nd quarter. Stifel Financial Corp now owns 8,325 shares of the company’s stock worth $292,000 after purchasing an additional 281 shares during the last quarter. Advisors Asset Management Inc. increased its position in Li Auto by 3.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 14,458 shares of the company’s stock valued at $515,000 after acquiring an additional 469 shares during the period. Creative Planning increased its position in Li Auto by 2.8% in the 2nd quarter. Creative Planning now owns 19,438 shares of the company’s stock valued at $745,000 after acquiring an additional 521 shares during the period. Signaturefd LLC increased its position in Li Auto by 7.1% in the 3rd quarter. Signaturefd LLC now owns 8,613 shares of the company’s stock valued at $307,000 after acquiring an additional 569 shares during the period. Finally, Ronald Blue Trust Inc. increased its position in Li Auto by 40.9% in the 3rd quarter. Ronald Blue Trust Inc. now owns 2,046 shares of the company’s stock valued at $72,000 after acquiring an additional 594 shares during the period. Institutional investors own 9.88% of the company’s stock.

About Li Auto

Li Auto Inc, through its subsidiaries, 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 also offers sales and after sales management, and technology development and corporate management services, as well as purchases manufacturing equipment.