Li Auto (NASDAQ:LI) Announces Earnings Results, Beats Estimates By $0.79 EPS

Li Auto (NASDAQ:LIGet Rating) posted its quarterly earnings results on Tuesday. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.79, MarketWatch Earnings reports. The firm had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.51 billion. Li Auto had a negative net margin of 1.15% and a negative return on equity of 0.89%. The company’s revenue was up 167.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. Li Auto updated its Q2 2022 guidance to EPS.

NASDAQ:LI traded down $0.01 on Thursday, hitting $20.12. 14,060,629 shares of the stock were exchanged, compared to its average volume of 9,485,416. The stock has a market cap of $20.64 billion, a PE ratio of -402.60 and a beta of 1.75. The stock has a fifty day moving average of $24.62 and a 200-day moving average of $28.20. Li Auto has a fifty-two week low of $16.72 and a fifty-two week high of $37.45. The company has a current ratio of 4.33, a quick ratio of 4.19 and a debt-to-equity ratio of 0.15.

Several large investors have recently modified their holdings of the company. US Bancorp DE boosted its stake in Li Auto by 20.2% in the 1st quarter. US Bancorp DE now owns 3,890 shares of the company’s stock worth $100,000 after purchasing an additional 653 shares during the period. American International Group Inc. acquired a new position in Li Auto in the third quarter valued at approximately $189,000. Comerica Bank boosted its stake in Li Auto by 12.7% in the fourth quarter. Comerica Bank now owns 9,321 shares of the company’s stock valued at $237,000 after acquiring an additional 1,050 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Li Auto by 67.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,177 shares of the company’s stock worth $288,000 after acquiring an additional 4,485 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Li Auto by 548.8% in the 4th quarter. Advisors Asset Management Inc. now owns 11,749 shares of the company’s stock worth $377,000 after purchasing an additional 9,938 shares during the last quarter. Institutional investors own 21.74% of the company’s stock.

A number of equities analysts have issued reports on LI shares. Barclays lifted their target price on shares of Li Auto from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, February 28th. TheStreet lowered shares of Li Auto from a “c-” rating to a “d+” rating in a research report on Wednesday, April 20th. HSBC assumed coverage on Li Auto in a research report on Friday, April 1st. They issued a “buy” rating and a $35.00 price objective for the company. Bank of America cut their price objective on Li Auto from $35.00 to $33.00 in a report on Tuesday. Finally, UBS Group boosted their price objective on shares of Li Auto from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, April 4th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Li Auto has a consensus rating of “Buy” and a consensus target price of $41.24.

Li Auto Company Profile (Get Rating)

Li Auto Inc, through its subsidiaries, designs, develops, manufactures, and sells smart electric sport utility vehicles (SUVs) in China. It offers Li ONE, a six-seat electric SUV that equipped with a range of extension system and smart vehicle solutions. The company was formerly known as Leading Ideal Inc and changed its name to Li Auto Inc in July 2020.

Further Reading

Earnings History for Li Auto (NASDAQ:LI)

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