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

Shares of Li Auto Inc. (NASDAQ:LI) gapped up prior to trading 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.

Analyst Ratings Changes

A number of brokerages recently weighed in on LI. Citigroup lowered their price objective on shares of Li Auto from $57.30 to $48.50 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Deutsche Bank Aktiengesellschaft raised Li Auto from a “hold” rating to a “buy” rating and lowered their target price for the company from $45.00 to $41.00 in a report on Tuesday, February 6th. Barclays lowered shares of Li Auto from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $39.00 to $25.00 in a research report on Thursday, April 25th. Morgan Stanley dropped their price objective on shares of Li Auto from $74.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, March 25th. 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 target price for the company. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.36.

Li Auto Trading Down 3.3 %

The stock has a market capitalization of $29.95 billion, a PE ratio of 18.21 and a beta of 1.10. The stock’s 50 day moving average price is $32.11 and its 200-day moving average price is $33.47. The company has a quick ratio of 1.48, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

Li Auto (NASDAQ:LI) last released its earnings results on Monday, February 26th. The company reported $0.49 earnings per share (EPS) for the quarter. Li Auto had a return on equity of 18.37% and a net margin of 9.44%. The firm had revenue of $5.88 billion during the quarter. On average, sell-side analysts expect that Li Auto Inc. will post 1.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LI. Scarborough Advisors LLC purchased a new position in shares of Li Auto in the 4th quarter worth approximately $41,000. Concourse Financial Group Securities Inc. lifted its stake in Li Auto by 186.0% in the third quarter. Concourse Financial Group Securities Inc. now owns 1,430 shares of the company’s stock worth $51,000 after acquiring an additional 930 shares during the period. Rakuten Securities Inc. bought a new position in shares of Li Auto during the fourth quarter valued at approximately $57,000. Barometer Capital Management Inc. purchased a new position in shares of Li Auto in the 4th quarter valued at $135,000. Finally, Employees Retirement System of Texas bought a new position in shares of Li Auto in the 3rd quarter worth $130,000. 9.88% of the stock is owned by hedge funds and other 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.