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

Shares of Li Auto Inc. (NASDAQ:LI - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $27.82, but opened at $29.68. Li Auto shares last traded at $29.56, with a volume of 2,270,175 shares trading hands.

Analyst Ratings Changes

A number of brokerages have weighed in on LI. Nomura Securities upgraded Li Auto to a "hold" rating in a report on Monday, March 17th. Cfra Research raised Li Auto to a "strong sell" rating in a research note on Friday, March 21st. Macquarie downgraded Li Auto from an "outperform" rating to a "neutral" rating and set a $27.00 target price for the company. in a research note on Monday, March 17th. JPMorgan Chase & Co. raised Li Auto from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $22.00 to $40.00 in a research note on Friday, February 28th. Finally, HSBC set a $38.50 target price on Li Auto and gave the stock a "buy" rating in a research note on Thursday, March 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $32.85.

Li Auto Stock Down 0.2%

The business has a 50-day moving average of $25.43 and a 200-day moving average of $25.02. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.64 and a current ratio of 1.76. The stock has a market capitalization of $30.85 billion, a price-to-earnings ratio of 21.82, a P/E/G ratio of 3.27 and a beta of 0.98.

Li Auto (NASDAQ:LI - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.45 billion. Li Auto had a return on equity of 13.03% and a net margin of 7.20%. The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.21 earnings per share. On average, sell-side analysts expect that Li Auto Inc. will post 0.96 EPS for the current year.

Hedge Funds Weigh In On Li Auto

Institutional investors have recently bought and sold shares of the company. SVB Wealth LLC acquired a new position in Li Auto in the 1st quarter valued at about $33,000. Summit Securities Group LLC acquired a new position in Li Auto in the 1st quarter valued at about $50,000. CX Institutional acquired a new position in Li Auto in the 1st quarter valued at about $72,000. Daiwa Securities Group Inc. grew its position in Li Auto by 16.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the company's stock valued at $84,000 after acquiring an additional 500 shares in the last quarter. Finally, Brooklyn Investment Group grew its position in Li Auto by 1,077.3% in the 1st 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. 9.88% of the stock is 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.