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

Li Auto Inc. (NASDAQ:LI) gapped down before the market opened 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.

Analysts Set New Price Targets

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

Li Auto Stock Performance

The company has a market cap of $21.37 billion, a PE ratio of 13.47, a PEG ratio of 2.50 and a beta of 0.97. 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’s 50 day moving average is $21.88 and its 200-day moving average is $28.72.

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

Institutional Investors Weigh In On Li Auto

Several hedge funds and other institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale increased its stake in Li Auto by 510.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 76,450 shares of the company’s stock worth $2,370,000 after acquiring an additional 63,917 shares during the last quarter. Swedbank AB acquired a new stake in shares of Li Auto during the 1st quarter worth about $2,003,000. Virtu Financial LLC purchased a new stake in Li Auto in the 1st quarter valued at about $397,000. Tidal Investments LLC lifted its position in Li Auto by 6.2% in the first quarter. Tidal Investments LLC now owns 97,408 shares of the company’s stock valued at $2,950,000 after buying an additional 5,666 shares during the last quarter. Finally, Bayesian Capital Management LP boosted its stake in Li Auto by 108.1% during the first quarter. Bayesian Capital Management LP now owns 53,705 shares of the company’s stock worth $1,626,000 after buying an additional 27,900 shares during the period. 9.88% of the stock is currently owned by institutional investors and hedge funds.

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.