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

Li Auto Inc. (NASDAQ:LI)’s stock price gapped up prior to trading 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 changing hands.

Wall Street Analyst Weigh In

Several brokerages have commented on LI. Morgan Stanley cut their price target on shares of Li Auto from $65.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, May 21st. Bank of America dropped their price objective on shares of 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 objective on shares of Li Auto from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Tuesday, May 21st. Citigroup dropped their price objective 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. Finally, Macquarie started coverage on shares of Li Auto in a report on Monday, April 15th. They set an “outperform” rating and a $40.00 price objective for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $40.08.

Li Auto Price Performance

The business’s 50-day simple moving average is $22.00 and its 200-day simple moving average is $28.83. The stock has a market cap of $20.64 billion, a PE ratio of 12.97, a PEG ratio of 2.16 and a beta of 0.97. The company has a quick ratio of 1.37, a current ratio of 1.53 and a debt-to-equity ratio of 0.04.

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

Institutional Investors Weigh In On Li Auto

Large investors have recently modified their holdings of the stock. Brilliance Asset Management Ltd. boosted its stake in Li Auto by 6.9% during the fourth quarter. Brilliance Asset Management Ltd. now owns 4,639,798 shares of the company’s stock worth $173,668,000 after acquiring an additional 299,531 shares in the last quarter. Franchise Capital Ltd boosted its stake in Li Auto by 163.2% during the fourth quarter. Franchise Capital Ltd now owns 975,250 shares of the company’s stock worth $36,504,000 after acquiring an additional 604,773 shares in the last quarter. Ninety One UK Ltd bought a new stake in Li Auto during the fourth quarter worth about $35,896,000. SIH Partners LLLP boosted its stake in Li Auto by 508.2% during the first quarter. SIH Partners LLLP now owns 890,900 shares of the company’s stock worth $26,976,000 after acquiring an additional 744,419 shares in the last quarter. Finally, Ariose Capital Management Ltd bought a new stake in Li Auto during the fourth quarter worth about $29,555,000. Institutional investors 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.