Li Auto (NASDAQ:LI) Shares Gap Up - Here's Why

Li Auto Inc. Sponsored ADR (NASDAQ:LI - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $29.40, but opened at $31.19. Li Auto shares last traded at $31.25, with a volume of 3,028,048 shares trading hands.

Wall Street Analyst Weigh In

Separately, Cfra Research raised shares of Li Auto from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 10th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $32.85.

Li Auto Trading Up 7.7%

The business has a 50-day moving average price of $28.03 and a 200-day moving average price of $26.02. The firm has a market capitalization of $33.17 billion, a P/E ratio of 30.17, a PEG ratio of 1.18 and a beta of 0.95. The company has a quick ratio of 1.72, a current ratio of 1.87 and a debt-to-equity ratio of 0.12.

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

Institutional Trading of Li Auto

A number of hedge funds have recently made changes to their positions in the business. SVB Wealth LLC bought a new position in shares of Li Auto in the 1st quarter valued at $33,000. Summit Securities Group LLC acquired a new position in Li Auto during the 1st quarter worth approximately $50,000. CX Institutional bought a new stake in Li Auto during the 1st quarter worth approximately $72,000. Brooklyn Investment Group grew its holdings in shares of Li Auto by 1,077.3% in the first quarter. Brooklyn Investment Group now owns 4,980 shares of the company's stock valued at $125,000 after acquiring an additional 4,557 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC bought a new position in shares of Li Auto in the first quarter valued at approximately $126,000. 9.88% of the stock is 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.

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