Li Auto (NASDAQ:LI) Shares Gap Down to $31.04

Li Auto Inc. (NASDAQ:LIGet Free Report)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $31.04, but opened at $30.07. Li Auto shares last traded at $29.87, with a volume of 854,877 shares traded.

Wall Street Analyst Weigh In

LI has been the subject of a number of research analyst reports. Morgan Stanley reduced their price target on shares of Li Auto from $74.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, March 25th. Citigroup dropped their price objective on shares of Li Auto from $57.30 to $48.50 and set a “buy” rating on the stock in a report on Friday, March 22nd. Deutsche Bank Aktiengesellschaft raised shares of Li Auto from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $45.00 to $41.00 in a report on Tuesday, February 6th. The Goldman Sachs Group initiated coverage on shares of Li Auto in a report on Wednesday, January 3rd. They set a “buy” rating on the stock. Finally, Bank of America lowered their price target 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $48.58.

Read Our Latest Report on Li Auto

Li Auto Price Performance

The company has a market capitalization of $32.00 billion, a PE ratio of 20.03 and a beta of 1.04. 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’s 50 day simple moving average is $33.33 and its 200-day simple moving average is $34.70.

Li Auto (NASDAQ:LIGet Free Report) last released its quarterly earnings results on Monday, February 26th. The company reported $0.49 EPS for the quarter. The business 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, equities analysts forecast that Li Auto Inc. will post 1.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LI. Captrust Financial Advisors grew its holdings in shares of Li Auto by 584.1% during the first quarter. Captrust Financial Advisors now owns 1,074 shares of the company’s stock valued at $28,000 after buying an additional 917 shares in the last quarter. IFP Advisors Inc grew its stake in Li Auto by 233.3% in the second quarter. IFP Advisors Inc now owns 1,000 shares of the company’s stock valued at $35,000 after purchasing an additional 700 shares in the last quarter. Scarborough Advisors LLC purchased a new position in Li Auto in the fourth quarter valued at about $41,000. Concourse Financial Group Securities Inc. grew its stake in Li Auto by 186.0% in the third quarter. Concourse Financial Group Securities Inc. now owns 1,430 shares of the company’s stock valued at $51,000 after purchasing an additional 930 shares in the last quarter. Finally, Rakuten Securities Inc. purchased a new position in Li Auto in the fourth quarter valued at about $57,000. Institutional investors and hedge funds own 9.88% of the company’s stock.

Li Auto Company Profile

(Get Free Report)

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.

See Also

Receive News & Ratings for Li Auto Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Li Auto and related companies with MarketBeat.com's FREE daily email newsletter.