Li Auto (NASDAQ:LI) Shares Gap Up to $17.88

Shares of Li Auto Inc. (NASDAQ:LI) gapped up before the market opened on Monday . The stock had previously closed at $17.88, but opened at $18.60. Li Auto shares last traded at $18.65, with a volume of 1,102,268 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on LI shares. Morgan Stanley decreased their price target on shares of Li Auto from $65.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 21st. Macquarie initiated coverage on Li Auto in a research report on Monday, April 15th. They set an “outperform” rating and a $40.00 target price on the stock. Bank of America reduced their target price on Li Auto from $41.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, May 21st. Barclays dropped their price target on Li Auto from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 21st. Finally, Citigroup decreased their target price on shares of Li Auto from $57.30 to $48.50 and set a “buy” rating for the company in a report on Friday, March 22nd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.08.

Li Auto Price Performance

The stock’s fifty day simple moving average is $22.22 and its 200-day simple moving average is $29.06. The company has a market capitalization of $19.73 billion, a P/E ratio of 12.30, a PEG ratio of 2.16 and a beta of 0.97. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.53 and a quick ratio of 1.37.

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

Institutional Investors Weigh In On Li Auto

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. increased its holdings in Li Auto by 3.4% during 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. Corient Private Wealth LLC increased its stake in shares of 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. SG Americas Securities LLC raised its holdings in shares of Li Auto by 7.0% in the first quarter. SG Americas Securities LLC now owns 10,427 shares of the company’s stock valued at $316,000 after buying an additional 685 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Li Auto by 7.6% during the 4th 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. Finally, Caprock Group LLC lifted its position in Li Auto by 10.0% during the 4th quarter. Caprock Group LLC now owns 8,814 shares of the company’s stock worth $330,000 after buying an additional 802 shares in the last quarter. Institutional investors and hedge funds 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.