Li Auto (NASDAQ:LI) Shares Gap Up to $23.47

Li Auto Inc. (NASDAQ:LI)’s share price gapped up prior to trading on Friday . The stock had previously closed at $23.47, but opened at $25.41. Li Auto shares last traded at $24.82, with a volume of 3,821,954 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently weighed in on LI. Deutsche Bank Aktiengesellschaft raised shares of Li Auto from a “hold” rating to a “buy” rating and dropped their price target for the company from $45.00 to $41.00 in a research report on Tuesday, February 6th. Bank of America dropped their price target on shares of Li Auto from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, March 18th. Barclays lowered shares of Li Auto from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $39.00 to $25.00 in a research report on Thursday. The Goldman Sachs Group began coverage on shares of Li Auto in a research report on Wednesday, January 3rd. They set a “buy” rating on the stock. Finally, Macquarie began coverage on shares of Li Auto in a research report on Monday, April 15th. They set an “outperform” rating and a $40.00 price target on the stock. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.36.

Li Auto Price Performance

The stock has a market cap of $26.57 billion, a PE ratio of 16.15 and a beta of 1.04. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.48. The firm’s 50 day moving average price is $32.95 and its two-hundred day moving average price is $33.73.

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

Institutional Investors Weigh In On Li Auto

Several hedge funds have recently bought and sold shares of the stock. Brilliance Asset Management Ltd. lifted its position in Li Auto by 6.9% during the fourth quarter. Brilliance Asset Management Ltd. now owns 4,639,798 shares of the company’s stock valued at $173,668,000 after purchasing an additional 299,531 shares during the last quarter. Franchise Capital Ltd lifted its position in Li Auto by 163.2% during 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 last quarter. Ninety One UK Ltd bought a new stake in Li Auto during the fourth quarter valued at approximately $35,896,000. Ariose Capital Management Ltd bought a new stake in Li Auto during the fourth quarter valued at approximately $29,555,000. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Li Auto in the 3rd quarter worth approximately $24,312,000. 9.88% of the stock is currently owned by institutional investors.

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.