Li Auto (NASDAQ:LI) Shares Gap Down to $18.52

Li Auto Inc. (NASDAQ:LI)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $18.52, but opened at $18.14. Li Auto shares last traded at $18.24, with a volume of 399,366 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LI shares. Morgan Stanley dropped their target price on Li Auto from $65.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, May 21st. Macquarie started coverage on Li Auto in a report on Monday, April 15th. They issued an “outperform” rating and a $40.00 target price on the stock. Barclays dropped their target price on Li Auto from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 21st. Citigroup dropped their target price on Li Auto from $57.30 to $48.50 and set a “buy” rating on the stock in a report on Friday, March 22nd. Finally, Bank of America dropped their target price on Li Auto from $41.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $40.50.

Li Auto Stock Performance

The company has a quick ratio of 1.37, a current ratio of 1.53 and a debt-to-equity ratio of 0.04. The firm has a fifty day simple moving average of $22.61 and a 200-day simple moving average of $29.33. The company has a market cap of $20.07 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 2.24 and a beta of 1.00.

Li Auto (NASDAQ:LI) last released its quarterly earnings results on Monday, May 20th. The company reported $0.08 earnings per share (EPS) for the quarter. Li Auto had a return on equity of 16.65% and a net margin of 8.73%. The firm had revenue of $3.55 billion for the quarter. On average, research analysts forecast that Li Auto Inc. will post 1.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Li Auto

Hedge funds and other institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale lifted its position in Li Auto by 510.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 76,450 shares of the company’s stock valued at $2,370,000 after purchasing an additional 63,917 shares during the period. Swedbank AB acquired a new stake in Li Auto in the first quarter valued at about $2,003,000. Virtu Financial LLC acquired a new stake in Li Auto in the first quarter valued at about $397,000. Tidal Investments LLC lifted its position in Li Auto by 6.2% in the first quarter. Tidal Investments LLC now owns 97,408 shares of the company’s stock valued at $2,950,000 after purchasing an additional 5,666 shares during the period. Finally, Bayesian Capital Management LP lifted its position in Li Auto by 108.1% in the first quarter. Bayesian Capital Management LP now owns 53,705 shares of the company’s stock valued at $1,626,000 after purchasing an additional 27,900 shares during the period. Hedge funds and other 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.