Li Auto (NASDAQ:LI) Shares Gap Down to $29.18

Li Auto Inc. (NASDAQ:LI) shares gapped down before the market opened on Friday . The stock had previously closed at $29.18, but opened at $27.35. Li Auto shares last traded at $27.35, with a volume of 1,334,258 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Citigroup dropped their price objective on Li Auto from $57.30 to $48.50 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Deutsche Bank Aktiengesellschaft raised Li Auto from a “hold” rating to a “buy” rating and decreased their target price for the company from $45.00 to $41.00 in a research report on Tuesday, February 6th. Barclays decreased their target price on Li Auto from $56.00 to $39.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. Morgan Stanley decreased their target price on Li Auto from $74.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, March 25th. Finally, The Goldman Sachs Group started coverage on Li Auto in a research report on Wednesday, January 3rd. They issued a “buy” rating for the company. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Li Auto has an average rating of “Buy” and an average target price of $47.36.

Li Auto Trading Down 7.1 %

The stock has a market cap of $28.75 billion, a P/E ratio of 17.65 and a beta of 1.04. The firm’s fifty day moving average price is $33.65 and its two-hundred day moving average price is $34.15. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.48.

Li Auto (NASDAQ:LI) last released its quarterly earnings results on Monday, February 26th. The company reported $0.49 earnings per share for the quarter. The firm had revenue of $5.88 billion for the quarter. Li Auto had a net margin of 9.44% and a return on equity of 18.37%. As a group, equities research analysts forecast that Li Auto Inc. will post 1.97 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors grew its stake in shares of Li Auto by 584.1% during the first quarter. Captrust Financial Advisors now owns 1,074 shares of the company’s stock valued at $28,000 after buying an additional 917 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Li Auto by 233.3% during the second quarter. IFP Advisors Inc now owns 1,000 shares of the company’s stock worth $35,000 after purchasing an additional 700 shares during the period. Scarborough Advisors LLC purchased a new stake in shares of Li Auto during the fourth quarter worth about $41,000. Concourse Financial Group Securities Inc. boosted its holdings in shares of Li Auto by 186.0% during the third quarter. Concourse Financial Group Securities Inc. now owns 1,430 shares of the company’s stock worth $51,000 after purchasing an additional 930 shares during the period. Finally, Rakuten Securities Inc. purchased a new stake in shares of Li Auto during the fourth quarter worth about $57,000. 9.88% of the stock is owned by institutional investors.

About Li Auto

Li Auto Inc, through its subsidiaries, 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 also offers sales and after sales management, and technology development and corporate management services, as well as purchases manufacturing equipment.