Li Auto (NASDAQ:LI) Shares Gap Down to $18.52

Li Auto Inc. (NASDAQ:LI) shares gapped down prior to trading on Tuesday . The stock had previously closed at $18.52, but opened at $18.14. Li Auto shares last traded at $18.24, with a volume of 399,366 shares.

Wall Street Analyst Weigh In

LI has been the subject of a number of research analyst reports. Morgan Stanley cut their target price on Li Auto from $65.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, May 21st. Bank of America dropped their price target on Li Auto from $41.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. Barclays dropped their price target on Li Auto from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 21st. Macquarie began coverage on Li Auto in a report on Monday, April 15th. They issued an “outperform” rating and a $40.00 price target on the stock. Finally, Citigroup dropped their price target on Li Auto from $57.30 to $48.50 and set a “buy” rating on the stock in a report on Friday, March 22nd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.50.

Li Auto Stock Performance

The firm’s 50 day simple moving average is $23.00 and its 200-day simple moving average is $29.52. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.37 and a current ratio of 1.53. The company has a market capitalization of $19.36 billion, a price-to-earnings ratio of 12.35, a P/E/G ratio of 2.16 and a beta of 1.00.

Li Auto (NASDAQ:LI) last announced its earnings results on Monday, May 20th. The company reported $0.08 earnings per share (EPS) for the quarter. Li Auto had a net margin of 8.73% and a return on equity of 16.65%. The company had revenue of $3.55 billion for the quarter. Analysts expect that Li Auto Inc. will post 1.04 EPS for the current year.

Institutional Trading of Li Auto

Large investors have recently added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new position in shares of Li Auto in the fourth quarter worth $41,000. Rakuten Securities Inc. acquired a new position in shares of Li Auto in the fourth quarter worth $57,000. Employees Retirement System of Texas acquired a new position in shares of Li Auto in the third quarter worth $130,000. Barometer Capital Management Inc. acquired a new position in shares of Li Auto in the fourth quarter worth $135,000. Finally, Tucker Asset Management LLC acquired a new position in shares of Li Auto in the third quarter worth $217,000. 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.