Li Auto (NASDAQ:LI) Shares Gap Down to $29.18

Li Auto Inc. (NASDAQ:LI)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $29.18, but opened at $27.35. Li Auto shares last traded at $27.35, with a volume of 1,334,258 shares traded.

Analyst Ratings Changes

A number of brokerages recently commented on LI. Bank of America dropped their price objective on shares of Li Auto from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Barclays lowered their price target on shares of Li Auto from $56.00 to $39.00 and set an “overweight” rating on the stock in a research note on Friday, March 22nd. The Goldman Sachs Group began coverage on shares of Li Auto in a research note on Wednesday, January 3rd. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Li Auto from a “hold” rating to a “buy” rating and lowered their price target for the company from $45.00 to $41.00 in a research note on Tuesday, February 6th. Finally, Macquarie assumed coverage on shares of Li Auto in a research note on Monday, April 15th. They issued an “outperform” rating and a $40.00 price target on the stock. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Li Auto currently has an average rating of “Buy” and an average price target of $47.36.

Li Auto Stock Down 9.6 %

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 stock has a market cap of $27.99 billion, a P/E ratio of 17.02 and a beta of 1.04. The stock’s fifty day simple moving average is $33.56 and its 200-day simple moving average is $34.09.

Li Auto (NASDAQ:LI) last posted its quarterly earnings data 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 net margin of 9.44% and a return on equity of 18.37%. As a group, research analysts forecast that Li Auto Inc. will post 1.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Li Auto

Hedge funds and other institutional investors have recently made changes to their positions in the company. Stifel Financial Corp increased its position in Li Auto by 3.5% during 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 in the last quarter. Advisors Asset Management Inc. increased its position 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 purchasing an additional 469 shares in the last quarter. Creative Planning increased its position in Li Auto by 2.8% during the 2nd quarter. Creative Planning now owns 19,438 shares of the company’s stock worth $745,000 after purchasing an additional 521 shares in the last quarter. Signaturefd LLC increased its position 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 purchasing an additional 569 shares in the last quarter. Finally, Ronald Blue Trust Inc. increased its position in Li Auto by 40.9% during the 3rd quarter. Ronald Blue Trust Inc. now owns 2,046 shares of the company’s stock worth $72,000 after purchasing an additional 594 shares in the last quarter. 9.88% of the stock is currently owned by institutional investors and hedge funds.

Li Auto Company Profile

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.