Li Auto (NASDAQ:LI) Shares Gap Up to $28.41

Li Auto Inc. (NASDAQ:LI - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $28.41, but opened at $29.32. Li Auto shares last traded at $29.10, with a volume of 745,977 shares traded.

Analyst Upgrades and Downgrades

Several research analysts recently commented on LI shares. Deutsche Bank Aktiengesellschaft upgraded Li Auto from a "hold" rating to a "buy" rating and dropped their price target for the stock from $45.00 to $41.00 in a research report on Tuesday, February 6th. The Goldman Sachs Group initiated coverage on shares of Li Auto in a research note on Wednesday, January 3rd. They issued a "buy" rating for the company. Bank of America decreased their price objective on shares of Li Auto from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, March 18th. Macquarie initiated coverage on shares of Li Auto in a research note on Monday. They issued an "outperform" rating and a $40.00 price objective for the company. Finally, 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 note on Friday, March 22nd. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $47.36.

Li Auto Stock Up 1.1 %

The company's 50 day moving average price is $33.68 and its two-hundred day moving average price is $34.19. The company has a quick ratio of 1.48, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The stock has a market cap of $30.48 billion, a P/E ratio of 18.54 and a beta of 1.04.

Li Auto (NASDAQ:LI - Get Free Report) last posted its quarterly earnings results on Monday, February 26th. The company reported $0.49 earnings per share for the quarter. Li Auto had a net margin of 9.44% and a return on equity of 18.37%. The firm had revenue of $5.88 billion during the quarter. As a group, research analysts expect that Li Auto Inc. will post 1.97 earnings per share for the current year.

Hedge Funds Weigh In On Li Auto

Several institutional investors and hedge funds have recently bought and sold shares of the company. Captrust Financial Advisors boosted its holdings in Li Auto by 584.1% in the first quarter. Captrust Financial Advisors now owns 1,074 shares of the company's stock valued at $28,000 after purchasing an additional 917 shares during the last quarter. IFP Advisors Inc raised its position in shares of Li Auto by 233.3% in the second quarter. IFP Advisors Inc now owns 1,000 shares of the company's stock worth $35,000 after acquiring an additional 700 shares during the period. Scarborough Advisors LLC acquired a new position in shares of Li Auto in the fourth quarter worth about $41,000. Concourse Financial Group Securities Inc. raised its position in shares of Li Auto by 186.0% in the third quarter. Concourse Financial Group Securities Inc. now owns 1,430 shares of the company's stock worth $51,000 after acquiring an additional 930 shares during the period. Finally, Rakuten Securities Inc. acquired a new position in shares of Li Auto in the fourth quarter worth about $57,000. 9.88% of the stock is owned by hedge funds and other institutional investors.

About Li Auto

Li Auto Inc, through its subsidiaries, 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 also offers sales and after sales management, and technology development and corporate management services, as well as purchases manufacturing equipment.