Li Auto (NASDAQ:LI) Shares Gap Down to $24.72

Li Auto Inc. (NASDAQ:LI) gapped down before the market opened on Wednesday . The stock had previously closed at $24.72, but opened at $23.68. Li Auto shares last traded at $23.80, with a volume of 1,294,364 shares.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Li Auto from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Citigroup boosted their price objective on shares of Li Auto from $21.60 to $25.50 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Bank of America increased their target price on Li Auto from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.07.

Li Auto Trading Down 3.4 %

The business’s 50-day moving average is $19.87 and its two-hundred day moving average is $23.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.76 and a quick ratio of 1.63. The firm has a market cap of $25.35 billion, a P/E ratio of 15.83 and a beta of 0.96.

Li Auto (NASDAQ:LI) last released its earnings results on Wednesday, August 28th. The company reported $0.14 earnings per share (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 for the quarter.

Institutional Trading of Li Auto

Large investors have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. lifted its position in shares of Li Auto by 4.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 37,479 shares of the company’s stock valued at $1,403,000 after buying an additional 1,679 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Li Auto by 20.5% in the second quarter. American Century Companies Inc. now owns 726,684 shares of the company’s stock valued at $12,993,000 after purchasing an additional 123,838 shares during the last quarter. Franchise Capital Ltd raised its position in shares of Li Auto by 163.2% in the fourth quarter. Franchise Capital Ltd now owns 975,250 shares of the company’s stock valued at $36,504,000 after purchasing an additional 604,773 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Li Auto by 510.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 76,450 shares of the company’s stock worth $2,370,000 after buying an additional 63,917 shares during the last quarter. Finally, OLD Mission Capital LLC bought a new stake in shares of Li Auto during the 4th quarter worth about $17,696,000. Institutional investors and hedge funds 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.