Li Auto (NASDAQ:LI) Shares Gap Up to $28.00

Li Auto Inc. (NASDAQ:LI) gapped up before the market opened on Monday . The stock had previously closed at $28.00, but opened at $29.88. Li Auto shares last traded at $29.11, with a volume of 4,001,456 shares trading hands.

Wall Street Analysts Forecast Growth

LI has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised Li Auto from a “hold” rating to a “buy” rating and lowered their price target for the stock from $45.00 to $41.00 in a research report on Tuesday, February 6th. Macquarie assumed coverage on shares of Li Auto in a research report on Monday, April 15th. They issued an “outperform” rating and a $40.00 price objective for the company. Barclays cut shares of Li Auto from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $39.00 to $25.00 in a report on Thursday, April 25th. Citigroup reduced their target price on Li Auto from $57.30 to $48.50 and set a “buy” rating for the company in a research note on Friday, March 22nd. Finally, Morgan Stanley decreased their price objective on Li Auto from $74.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, March 25th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Li Auto has a consensus rating of “Moderate Buy” and a consensus price target of $45.36.

Li Auto Stock Performance

The stock has a market cap of $30.98 billion, a price-to-earnings ratio of 18.06 and a beta of 1.10. 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 has a 50 day simple moving average of $32.35 and a 200 day simple moving average of $33.50.

Li Auto (NASDAQ:LI) last announced its earnings results on Monday, February 26th. The company reported $0.49 EPS for the quarter. The business had revenue of $5.88 billion for the quarter. Li Auto had a return on equity of 18.37% and a net margin of 9.44%. As a group, equities research analysts forecast that Li Auto Inc. will post 1.97 EPS for the current year.

Hedge Funds Weigh In On Li Auto

Large investors have recently modified their holdings of the company. Advisors Asset Management Inc. lifted its position in shares of Li Auto by 3.4% during the third 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 raised its stake in Li Auto by 7.1% during 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 during the last quarter. Corient Private Wealth LLC boosted its holdings in Li Auto by 5.3% in the fourth quarter. Corient Private Wealth LLC now owns 12,664 shares of the company’s stock worth $474,000 after acquiring an additional 641 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of Li Auto by 7.6% in the fourth quarter. Quadrant Capital Group LLC now owns 10,497 shares of the company’s stock worth $393,000 after acquiring an additional 745 shares during the last quarter. Finally, Caprock Group LLC increased its holdings in shares of Li Auto by 10.0% during the fourth quarter. Caprock Group LLC now owns 8,814 shares of the company’s stock valued at $330,000 after acquiring an additional 802 shares in the last quarter. 9.88% of the stock is currently owned by institutional investors.

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.