Li Auto (NASDAQ:LI) Shares Gap Down to $29.90

Li Auto Inc. (NASDAQ:LI)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $29.90, but opened at $28.72. Li Auto shares last traded at $29.34, with a volume of 3,078,773 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on LI shares. Bank of America lifted their target price on Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. cut their price objective on Li Auto from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Finally, Citigroup lifted their price objective on Li Auto from $25.50 to $29.60 and gave the stock a “neutral” rating in a research note on Monday. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.66.

Li Auto Stock Down 4.0 %

The company has a market cap of $30.46 billion, a P/E ratio of 19.93 and a beta of 0.98. The company has a fifty day moving average of $20.67 and a 200 day moving average of $22.88. The company has a quick ratio of 1.63, a current ratio of 1.76 and a debt-to-equity ratio of 0.14.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Scarborough Advisors LLC bought a new position in Li Auto in the fourth quarter worth approximately $41,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Li Auto by 58.7% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company’s stock valued at $28,000 after purchasing an additional 573 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Li Auto by 1,707.4% during the 2nd quarter. Blue Trust Inc. now owns 1,952 shares of the company’s stock valued at $35,000 after purchasing an additional 1,844 shares during the last quarter. Barometer Capital Management Inc. purchased a new stake in shares of Li Auto during the 4th quarter valued at $135,000. Finally, Ballentine Partners LLC lifted its holdings in shares of Li Auto by 20.6% during the 1st quarter. Ballentine Partners LLC now owns 7,199 shares of the company’s stock valued at $218,000 after purchasing 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.