Li Auto (NASDAQ:LI) Shares Gap Down to $31.04

Li Auto Inc. (NASDAQ:LIGet Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $31.04, but opened at $30.07. Li Auto shares last traded at $29.87, with a volume of 854,877 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays lowered their price target 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. Bank of America reduced their target price on Li Auto from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Li Auto from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $45.00 to $41.00 in a research report on Tuesday, February 6th. The Goldman Sachs Group initiated coverage on shares of Li Auto in a research report on Wednesday, January 3rd. They set a “buy” rating for the company. Finally, Citigroup lowered their price objective on shares of Li Auto from $57.30 to $48.50 and set a “buy” rating for the company in a research report on Friday, March 22nd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Li Auto presently has a consensus rating of “Buy” and an average target price of $48.58.

Check Out Our Latest Report on Li Auto

Li Auto Stock Performance

The stock’s 50 day moving average is $33.33 and its two-hundred day moving average is $34.70. 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 stock has a market capitalization of $32.00 billion, a price-to-earnings ratio of 20.03 and a beta of 1.04.

Li Auto (NASDAQ:LIGet Free Report) last issued its earnings results on Monday, February 26th. The company reported $0.49 earnings per share (EPS) for the quarter. Li Auto had a net margin of 9.44% and a return on equity of 18.37%. The business had revenue of $5.88 billion during the quarter. Analysts expect that Li Auto Inc. will post 1.97 earnings per share for the current fiscal year.

Institutional Trading of Li Auto

A number of hedge funds have recently added to or reduced their stakes in the stock. E Fund Management Hong Kong Co. Ltd. increased its stake in Li Auto by 137.9% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 325,772 shares of the company’s stock valued at $8,226,000 after purchasing an additional 188,828 shares in the last quarter. US Bancorp DE boosted its stake in Li Auto by 20.2% in the first quarter. US Bancorp DE now owns 3,890 shares of the company’s stock valued at $100,000 after acquiring an additional 653 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Li Auto by 67.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,177 shares of the company’s stock valued at $288,000 after acquiring an additional 4,485 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of Li Auto in the first quarter valued at approximately $966,000. Finally, APG Asset Management N.V. raised its position in shares of Li Auto by 29.5% in the first quarter. APG Asset Management N.V. now owns 86,520 shares of the company’s stock valued at $2,007,000 after purchasing an additional 19,700 shares during the period. Institutional investors and hedge funds own 9.88% of the company’s stock.

Li Auto Company Profile

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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.

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