Li Auto (NASDAQ:LI) Shares Gap Up to $25.78

Li Auto Inc. (NASDAQ:LI) gapped up prior to trading on Monday . The stock had previously closed at $25.78, but opened at $27.79. Li Auto shares last traded at $27.47, with a volume of 3,100,497 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LI. JPMorgan Chase & Co. decreased their price objective on Li Auto from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Bank of America upped their target price on Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Citigroup increased their target price on shares of Li Auto from $21.60 to $25.50 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Li Auto has an average rating of “Moderate Buy” and an average target price of $33.07.

Li Auto Price Performance

The business has a 50-day moving average price of $20.17 and a two-hundred day moving average price of $22.97. The company has a quick ratio of 1.63, a current ratio of 1.76 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $28.51 billion, a price-to-earnings ratio of 18.31 and a beta of 0.96.

Li Auto (NASDAQ:LI) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.14 EPS for the quarter. Li Auto had a return on equity of 13.70% and a net margin of 7.65%. The business had revenue of $4.36 billion during the quarter.

Hedge Funds Weigh In On Li Auto

Several institutional investors have recently added to or reduced their stakes in LI. Scarborough Advisors LLC bought a new position in shares of Li Auto during the 4th quarter valued at $41,000. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Li Auto by 58.7% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company’s stock worth $28,000 after acquiring an additional 573 shares in the last quarter. Blue Trust Inc. lifted its position in Li Auto by 1,707.4% during the second quarter. Blue Trust Inc. now owns 1,952 shares of the company’s stock valued at $35,000 after buying an additional 1,844 shares during the period. Barometer Capital Management Inc. bought a new stake in shares of Li Auto in the 4th quarter worth approximately $135,000. Finally, Ballentine Partners LLC grew its holdings in shares of Li Auto by 20.6% during the first quarter. Ballentine Partners LLC now owns 7,199 shares of the company’s stock valued at $218,000 after buying an additional 1,232 shares during the last quarter. 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.