Li Auto (NASDAQ:LI) Shares Gap Up – What’s Next?

Li Auto Inc. Sponsored ADR (NASDAQ:LI)’s share price gapped up before the market opened on Monday . The stock had previously closed at $26.01, but opened at $27.23. Li Auto shares last traded at $27.86, with a volume of 1,624,511 shares.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LI. Macquarie cut shares of Li Auto from an “outperform” rating to a “neutral” rating and set a $27.00 price target for the company. in a research report on Monday, March 17th. JPMorgan Chase & Co. raised shares of Li Auto from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $22.00 to $40.00 in a research note on Friday, February 28th. Nomura Securities raised Li Auto to a “hold” rating in a research report on Monday, March 17th. HSBC set a $38.50 price target on Li Auto and gave the stock a “buy” rating in a research report on Thursday, March 6th. Finally, Cfra Research upgraded Li Auto from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 10th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.85.

Li Auto Trading Up 1.6%

The company has a 50 day moving average of $27.00 and a two-hundred day moving average of $25.60. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.72 and a current ratio of 1.87. The stock has a market capitalization of $29.87 billion, a PE ratio of 27.17, a P/E/G ratio of 1.18 and a beta of 0.98.

Li Auto (NASDAQ:LI) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). Li Auto had a net margin of 5.60% and a return on equity of 11.83%. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same quarter in the previous year, the company posted $1.21 EPS. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. Sell-side analysts predict that Li Auto Inc. Sponsored ADR will post 0.96 EPS for the current year.

Hedge Funds Weigh In On Li Auto

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Li Auto by 459.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,923,620 shares of the company’s stock valued at $426,475,000 after purchasing an additional 13,897,555 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Li Auto in the 1st quarter valued at about $41,076,000. Goldman Sachs Group Inc. boosted its stake in shares of Li Auto by 133.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,636,156 shares of the company’s stock worth $66,431,000 after buying an additional 1,505,991 shares during the last quarter. Electron Capital Partners LLC acquired a new stake in Li Auto during the first quarter worth about $24,658,000. Finally, LMR Partners LLP acquired a new stake in Li Auto during the fourth quarter worth about $16,266,000. Institutional investors and hedge funds 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.