Li Auto (NASDAQ:LI) Shares Gap Up to $28.00

Li Auto Inc. (NASDAQ:LI) shares gapped up prior to trading on Monday . The stock had previously closed at $28.00, but opened at $29.88. Li Auto shares last traded at $29.11, with a volume of 4,001,456 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Bank of America lowered their price objective on shares of Li Auto from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, March 18th. Deutsche Bank Aktiengesellschaft upgraded Li Auto from a “hold” rating to a “buy” rating and dropped their target price for the stock from $45.00 to $41.00 in a research report on Tuesday, February 6th. Barclays downgraded Li Auto from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $39.00 to $25.00 in a research note on Thursday, April 25th. 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 objective for the company. Finally, Morgan Stanley decreased their price target on Li Auto from $74.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $45.36.

Li Auto Price Performance

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 stock has a market cap of $30.98 billion, a PE ratio of 18.06 and a beta of 1.10. The company’s 50 day moving average is $32.35 and its 200-day moving average is $33.50.

Li Auto (NASDAQ:LI) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.49 earnings per share (EPS) 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, sell-side analysts predict that Li Auto Inc. will post 1.97 earnings per share for the current year.

Hedge Funds Weigh In On Li Auto

Several institutional investors and hedge funds have recently bought and sold shares of the business. NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd lifted its holdings in shares of Li Auto by 63.4% during the 4th quarter. NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd now owns 187,606 shares of the company’s stock valued at $7,022,000 after buying an additional 72,798 shares during the last quarter. Tudor Investment Corp Et Al grew 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 acquiring an additional 137,350 shares in the last quarter. Rafferty Asset Management LLC raised its holdings in shares of Li Auto by 123.4% during the 3rd quarter. Rafferty Asset Management LLC now owns 21,992 shares of the company’s stock valued at $784,000 after purchasing an additional 12,149 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Li Auto during the 3rd quarter worth about $6,787,000. Finally, Handelsbanken Fonder AB acquired a new stake in shares of Li Auto in the fourth quarter worth $9,358,000. Hedge funds and other 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.