Li Auto (NASDAQ:LI) Shares Gap Up to $17.88

Li Auto Inc. (NASDAQ:LI) gapped up prior to trading on Monday . The stock had previously closed at $17.88, but opened at $18.60. Li Auto shares last traded at $18.65, with a volume of 1,102,268 shares trading hands.

Wall Street Analyst Weigh In

LI has been the subject of several analyst reports. Barclays dropped their price objective on Li Auto from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Tuesday, May 21st. Bank of America cut their price objective on shares of Li Auto from $41.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, May 21st. Macquarie started coverage on shares of Li Auto in a report on Monday, April 15th. They issued an “outperform” rating and a $40.00 target price on the stock. Citigroup cut their price target on shares of Li Auto from $57.30 to $48.50 and set a “buy” rating for the company in a report on Friday, March 22nd. Finally, Morgan Stanley decreased their price objective on shares of Li Auto from $65.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 21st. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $40.08.

Li Auto Stock Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.37 and a current ratio of 1.53. The firm has a market cap of $19.73 billion, a P/E ratio of 12.30, a P/E/G ratio of 2.16 and a beta of 0.97. The company’s 50 day moving average is $22.22 and its 200 day moving average is $29.06.

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

Institutional Trading of Li Auto

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Scarborough Advisors LLC acquired a new stake in Li Auto in the fourth quarter valued at $41,000. Rakuten Securities Inc. bought a new position in shares of Li Auto during the fourth quarter worth about $57,000. Employees Retirement System of Texas acquired a new position in shares of Li Auto in the third quarter worth approximately $130,000. Barometer Capital Management Inc. acquired a new position in shares of Li Auto in the fourth quarter worth approximately $135,000. Finally, Tucker Asset Management LLC acquired a new stake in Li Auto during the 3rd quarter valued at approximately $217,000. 9.88% of the stock is currently owned by 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.