Li Auto (NASDAQ:LI) Shares Gap Up to $23.47

Shares of Li Auto Inc. (NASDAQ:LI - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $23.47, but opened at $25.41. Li Auto shares last traded at $24.82, with a volume of 3,821,954 shares changing hands.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LI. Deutsche Bank Aktiengesellschaft upgraded Li Auto from a "hold" rating to a "buy" rating and lowered their price target for the company from $45.00 to $41.00 in a research report on Tuesday, February 6th. Barclays cut Li Auto from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $39.00 to $25.00 in a report on Thursday. Bank of America decreased their target price on Li Auto from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, March 18th. Morgan Stanley decreased their target price on Li Auto from $74.00 to $65.00 and set an "overweight" rating on the stock in a report on Monday, March 25th. Finally, The Goldman Sachs Group started coverage on Li Auto in a report on Wednesday, January 3rd. They issued a "buy" rating on the stock. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $45.36.

Li Auto Trading Up 6.7 %

The firm has a market cap of $26.57 billion, a price-to-earnings ratio of 16.15 and a beta of 1.04. The company has a 50-day moving average price of $32.95 and a 200 day moving average price of $33.74. The company has a quick ratio of 1.48, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

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

Institutional Trading of Li Auto

Institutional investors have recently bought and sold shares of the company. CWM LLC raised its holdings in Li Auto by 59.5% during the third quarter. CWM LLC now owns 1,812 shares of the company's stock valued at $65,000 after buying an additional 676 shares in the last quarter. SG Americas Securities LLC raised its holdings in Li Auto by 100.9% during the third quarter. SG Americas Securities LLC now owns 11,249 shares of the company's stock valued at $401,000 after buying an additional 5,650 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in Li Auto during the third quarter valued at about $245,000. Concourse Financial Group Securities Inc. raised its holdings in Li Auto by 186.0% during the third quarter. Concourse Financial Group Securities Inc. now owns 1,430 shares of the company's stock valued at $51,000 after buying an additional 930 shares in the last quarter. Finally, Calamos Wealth Management LLC bought a new position in Li Auto during the third quarter valued at about $1,121,000. Institutional investors and hedge funds own 9.88% of the company's stock.

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.