Li Auto (NASDAQ:LI) Shares Gap Up - Time to Buy?

Shares of Li Auto Inc. Sponsored ADR (NASDAQ:LI - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $25.95, but opened at $27.10. Li Auto shares last traded at $27.09, with a volume of 1,122,279 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Nomura Securities upgraded Li Auto to a "hold" rating in a report on Monday, March 17th. Cfra Research upgraded Li Auto from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 10th. Finally, Macquarie cut Li Auto from an "outperform" rating to a "neutral" rating and set a $27.00 target price for the company. in a report on Monday, March 17th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $32.85.

Li Auto Stock Performance

The stock's 50 day moving average price is $27.73 and its 200 day moving average price is $25.89. The company has a current ratio of 1.87, a quick ratio of 1.72 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $28.48 billion, a price-to-earnings ratio of 25.91, a P/E/G ratio of 1.09 and a beta of 0.95.

Li Auto (NASDAQ:LI - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.45 billion. Li Auto had a net margin of 5.60% and a return on equity of 11.83%. The company's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $1.21 earnings per share. Analysts expect that Li Auto Inc. Sponsored ADR will post 0.96 earnings per share for the current year.

Institutional Investors Weigh In On Li Auto

Several hedge funds have recently bought and sold shares of LI. Raymond James Financial Inc. acquired a new stake in shares of Li Auto in the fourth quarter valued at approximately $544,000. Amundi raised its position in shares of Li Auto by 1.2% in the fourth quarter. Amundi now owns 78,098 shares of the company's stock valued at $1,811,000 after buying an additional 888 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Li Auto by 16.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the company's stock valued at $84,000 after buying an additional 500 shares in the last quarter. Corient Private Wealth LLC raised its position in shares of Li Auto by 137.5% in the fourth quarter. Corient Private Wealth LLC now owns 26,926 shares of the company's stock valued at $646,000 after buying an additional 15,591 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Li Auto by 4.4% in the fourth quarter. Signaturefd LLC now owns 10,184 shares of the company's stock valued at $244,000 after buying an additional 428 shares in the last quarter. 9.88% of the stock is currently owned by institutional investors and hedge funds.

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.