Li Auto (NASDAQ:LI) Shares Gap Down – Here’s Why

Li Auto Inc. (NASDAQ:LI)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $22.60, but opened at $22.03. Li Auto shares last traded at $22.07, with a volume of 1,016,180 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on LI shares. Bank of America increased their price objective on Li Auto from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Citigroup boosted their price objective on shares of Li Auto from $25.50 to $29.60 and gave the company a “neutral” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. lowered their price objective on shares of Li Auto from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Macquarie reissued a “neutral” rating and set a $33.00 price objective (up previously from $25.00) on shares of Li Auto in a research report on Friday, October 4th. Finally, Barclays upped their price objective on shares of Li Auto from $22.00 to $31.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.94.

Li Auto Stock Performance

The business’s 50 day simple moving average is $25.15 and its two-hundred day simple moving average is $21.97. The firm has a market capitalization of $23.64 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 2.16 and a beta of 0.99. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13.

Li Auto (NASDAQ:LI) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.14 earnings per share for the quarter. The firm had revenue of $4.36 billion during the quarter. Li Auto had a return on equity of 13.03% and a net margin of 7.20%. Sell-side analysts anticipate that Li Auto Inc. will post 1.04 EPS for the current fiscal year.

Institutional Trading of Li Auto

Hedge funds have recently bought and sold shares of the company. American Century Companies Inc. grew its holdings in Li Auto by 20.5% during the second quarter. American Century Companies Inc. now owns 726,684 shares of the company’s stock valued at $12,993,000 after purchasing an additional 123,838 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Li Auto by 2,556.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,630,537 shares of the company’s stock worth $93,503,000 after purchasing an additional 3,493,881 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Li Auto by 27.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 432,988 shares of the company’s stock worth $11,106,000 after purchasing an additional 93,904 shares during the period. Ariose Capital Management Ltd bought a new position in shares of Li Auto during the third quarter worth $18,099,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Li Auto by 510.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 76,450 shares of the company’s stock valued at $2,370,000 after purchasing an additional 63,917 shares during the last quarter. Hedge funds and other institutional investors own 9.88% of the company’s stock.

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.