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

Li Auto Inc. (NASDAQ:LI)’s stock 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.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LI shares. The Goldman Sachs Group began coverage on Li Auto in a research note on Wednesday, January 3rd. They issued a “buy” rating for the company. Bank of America decreased their target price on shares of Li Auto from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, March 18th. Citigroup lowered their target price 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. Macquarie started coverage on shares of Li Auto in a research note on Monday, April 15th. They issued an “outperform” rating and a $40.00 price target for the company. Finally, Barclays lowered shares of Li Auto from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $39.00 to $25.00 in a research note on Thursday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $45.36.

Li Auto Price Performance

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’s fifty day moving average price is $33.08 and its 200 day moving average price is $33.80. The company has a market capitalization of $26.54 billion, a P/E ratio of 16.19 and a beta of 1.04.

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

Hedge Funds Weigh In On Li Auto

Several hedge funds and other institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. boosted its stake in shares of Li Auto by 3.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 14,458 shares of the company’s stock valued at $515,000 after purchasing an additional 469 shares in the last quarter. Signaturefd LLC boosted its position in Li Auto by 7.1% in the third quarter. Signaturefd LLC now owns 8,613 shares of the company’s stock valued at $307,000 after buying an additional 569 shares in the last quarter. Corient Private Wealth LLC boosted its position in Li Auto by 5.3% in the fourth quarter. Corient Private Wealth LLC now owns 12,664 shares of the company’s stock valued at $474,000 after buying an additional 641 shares in the last quarter. CWM LLC grew its stake in shares of Li Auto by 59.5% during the third quarter. CWM LLC now owns 1,812 shares of the company’s stock worth $65,000 after buying an additional 676 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of Li Auto by 7.6% during the fourth quarter. Quadrant Capital Group LLC now owns 10,497 shares of the company’s stock worth $393,000 after buying an additional 745 shares in the last quarter. Institutional investors own 9.88% of the company’s stock.

Li Auto Company Profile

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.