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

Li Auto Inc. (NASDAQ:LI)’s share price 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 trading hands.

Analyst Ratings Changes

A number of equities research analysts recently commented on LI shares. Barclays cut shares of Li Auto from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $39.00 to $25.00 in a report on Thursday. Macquarie began coverage on Li Auto in a research note on Monday, April 15th. They issued an “outperform” rating and a $40.00 target price on the stock. Citigroup cut their price target 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. Deutsche Bank Aktiengesellschaft upgraded Li Auto from a “hold” rating to a “buy” rating and lowered their price objective for the company from $45.00 to $41.00 in a research note on Tuesday, February 6th. Finally, The Goldman Sachs Group initiated coverage on shares of Li Auto in a research report on Wednesday, January 3rd. They set a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $45.36.

Li Auto Price Performance

The business has a fifty day moving average of $33.08 and a 200-day moving average of $33.80. The company has a current ratio of 1.57, a quick ratio of 1.48 and a debt-to-equity ratio of 0.03. The firm has a market cap of $26.54 billion, a PE ratio of 16.19 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 for the quarter. Li Auto had a return on equity of 18.37% and a net margin of 9.44%. The firm had revenue of $5.88 billion for the quarter. As a group, research analysts predict that Li Auto Inc. will post 1.97 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Deutsche Bank AG grew its holdings in shares of Li Auto by 100.8% during the third quarter. Deutsche Bank AG now owns 15,273 shares of the company’s stock worth $544,000 after purchasing an additional 1,990,089 shares in the last quarter. Ninety One UK Ltd purchased a new position in Li Auto in the 4th quarter worth approximately $35,896,000. Ariose Capital Management Ltd bought a new position in shares of Li Auto in the 4th quarter worth $29,555,000. Qube Research & Technologies Ltd purchased a new stake in shares of Li Auto during the 3rd quarter valued at $24,312,000. Finally, Franchise Capital Ltd lifted its holdings in shares of Li Auto by 163.2% during the 4th quarter. Franchise Capital Ltd now owns 975,250 shares of the company’s stock worth $36,504,000 after acquiring an additional 604,773 shares during the last quarter. Institutional investors own 9.88% of the company’s stock.

About Li Auto

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.