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

Li Auto Inc. (NASDAQ:LI)’s share price gapped up before the market opened 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Macquarie assumed coverage on Li Auto in a research note on Monday. They set an “outperform” rating and a $40.00 price objective on the stock. Barclays dropped their price objective on 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 assumed coverage on Li Auto in a research note on Wednesday, January 3rd. They set a “buy” rating on the stock. Citigroup dropped their price objective on Li Auto from $57.30 to $48.50 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Finally, Deutsche Bank Aktiengesellschaft upgraded Li Auto from a “hold” rating to a “buy” rating and dropped their price target for the company from $45.00 to $41.00 in a research note on Tuesday, February 6th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Li Auto currently has an average rating of “Buy” and a consensus target price of $47.36.

Li Auto Trading Up 1.7 %

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 $30.64 billion, a P/E ratio of 18.33 and a beta of 1.04. The business has a 50 day moving average of $33.71 and a two-hundred day moving average 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. The firm had revenue of $5.88 billion for the quarter. Li Auto had a return on equity of 18.37% and a net margin of 9.44%. Analysts predict that Li Auto Inc. will post 1.97 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LI. Comerica Bank acquired a new stake in shares of Li Auto during the 2nd quarter worth $290,000. IFP Advisors Inc grew its holdings in shares of Li Auto by 233.3% during the 2nd quarter. IFP Advisors Inc now owns 1,000 shares of the company’s stock worth $35,000 after purchasing an additional 700 shares in the last quarter. Captrust Financial Advisors grew its holdings in shares of Li Auto by 584.1% during the 1st quarter. Captrust Financial Advisors now owns 1,074 shares of the company’s stock worth $28,000 after purchasing an additional 917 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in shares of Li Auto during the 4th quarter worth $41,000. Finally, Concourse Financial Group Securities Inc. grew its holdings in shares of Li Auto by 186.0% during the 3rd quarter. Concourse Financial Group Securities Inc. now owns 1,430 shares of the company’s stock worth $51,000 after purchasing an additional 930 shares in the last quarter. Institutional investors own 9.88% of the company’s stock.

About Li Auto

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.