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

Li Auto Inc. (NASDAQ:LI)’s stock price 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 traded.

Wall Street Analyst Weigh In

LI has been the topic of a number of research reports. Bank of America dropped their price objective on Li Auto from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, March 18th. The Goldman Sachs Group started coverage on Li Auto in a report on Wednesday, January 3rd. They set a “buy” rating on the stock. Barclays lowered their price target on Li Auto from $56.00 to $39.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. Morgan Stanley lowered their price target on Li Auto from $74.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, March 25th. Finally, Deutsche Bank Aktiengesellschaft upgraded 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 report on Tuesday, February 6th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $47.36.

Li Auto Stock Up 1.7 %

The company has a quick ratio of 1.48, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $30.64 billion, a P/E ratio of 18.33 and a beta of 1.04. The firm has a 50-day moving average price of $33.71 and a two-hundred day moving average price of $34.23.

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

Institutional Investors Weigh In On Li Auto

Hedge funds have recently modified their holdings of the business. NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd lifted its position in Li Auto by 63.4% in the fourth quarter. NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd now owns 187,606 shares of the company’s stock worth $7,022,000 after purchasing an additional 72,798 shares during the period. Tudor Investment Corp Et Al lifted its position in Li Auto by 603.8% in the third quarter. Tudor Investment Corp Et Al now owns 160,099 shares of the company’s stock worth $5,708,000 after purchasing an additional 137,350 shares during the period. Rafferty Asset Management LLC lifted its position in Li Auto by 123.4% in the third quarter. Rafferty Asset Management LLC now owns 21,992 shares of the company’s stock worth $784,000 after purchasing an additional 12,149 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Li Auto in the third quarter worth $6,787,000. Finally, American Century Companies Inc. lifted its position in Li Auto by 19.4% in the third quarter. American Century Companies Inc. now owns 296,355 shares of the company’s stock worth $10,565,000 after purchasing an additional 48,089 shares during the period. 9.88% of the stock is owned by institutional investors.

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.