Li Auto (NASDAQ:LI) Shares Gap Down to $20.72

Li Auto Inc. (NASDAQ:LI)’s share price gapped down prior to trading on Friday . The stock had previously closed at $20.72, but opened at $20.10. Li Auto shares last traded at $20.16, with a volume of 1,227,755 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LI shares. Barclays cut 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 research report on Tuesday, May 21st. Bank of America decreased their price target on shares of Li Auto from $41.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. Macquarie began coverage on Li Auto in a research report on Monday, April 15th. They set an “outperform” rating and a $40.00 target price for the company. Morgan Stanley lowered their price target on Li Auto from $65.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, May 21st. Finally, Citigroup decreased 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. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Li Auto has an average rating of “Moderate Buy” and an average price target of $40.08.

Li Auto Price Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.53 and a quick ratio of 1.37. The business has a 50 day moving average of $21.88 and a 200 day moving average of $28.72. The company has a market cap of $21.37 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 2.50 and a beta of 0.97.

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

Institutional Investors Weigh In On Li Auto

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ninety One UK Ltd bought a new position in Li Auto in the 4th quarter worth $35,896,000. Ariose Capital Management Ltd purchased a new position in shares of Li Auto during the 4th quarter valued at about $29,555,000. SIH Partners LLLP grew its stake in shares of Li Auto by 508.2% during the 1st quarter. SIH Partners LLLP now owns 890,900 shares of the company’s stock valued at $26,976,000 after acquiring an additional 744,419 shares during the period. Franchise Capital Ltd increased its holdings in Li Auto by 163.2% in the 4th 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. Finally, FIFTHDELTA Ltd purchased a new stake in Li Auto in the 1st quarter worth approximately $14,816,000. Hedge funds and other institutional investors own 9.88% of the company’s stock.

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.