Li Auto Inc. (LI) shares hit new 52-week high after quarter revenue beat expectations
The company expects vehicle deliveries in the range of 11,000 to 12,000 for the fourth quarter
avatar
Staff or Guest writer for The Dog of Wall Street.
2020-11-13 12:07

Li Auto Inc. (LI) on Friday announced its first quarterly results after going public. The China-based electric vehicle maker posted wider-than-expected loss. However, its quarterly revenue beat consensus estimates, sending its shares up more than 5 percent this morning.

Li Auto Inc. (LI) shares hit new 52-week high after quarter revenue beat expectations

The company reported a loss of 320.7 million yuan, or 0.52 yuan per share for the three-month period ended September 30, as compared to a loss of 0.38 yuan per share forecasted by analysts. Revenue rose to 2.51 billion yuan in the quarter, easily beating analysts’ average estimate of 2.42 billion yuan, as vehicle deliveries continue to increase.

Speaking on the results, CEO Xiang Li said in a statement “this is our first quarterly earnings release as a public company, and we are pleased to announce robust third quarter results reflecting not only our strong growth momentum driven by the outstanding value proposition of our products, but also our relentless pursuit of operating efficiencies.”

Operating cash flow in the quarter rose to 929.8 million yuan, up 105.8 percent from 451.7 million yuan in the second quarter. The company’s gross margin in the quarter rose to 19.8 percent, as compared to 13.3 percent in the prior quarter.

Its vehicle deliveries jumped 31.1 percent to 8,660 in Q3, as compared to 6,604 in the second quarter. Li Auto said it expects its growth momentum to continue in the current quarter. It projected vehicle deliveries in the range of 11,000 to 12,000 for the fourth quarter.

Shares of Li Auto Inc. (NASDAQ: LI) hit a new 52-week high of $40.80 this morning after the company released its third-quarter results. Overall, LI stock has performed well since going public, as its share price surged nearly 108 percent during the period, including today’s gain.

LI stock is currently trading on a heavy volume of 112 million shares, significantly higher than its daily average volume of just 11.75 million shares, making it one of the most actively traded stock of the morning.


Disclaimer: I have no positions in any of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article. All information should be independently verified and should not be relied upon for purposes of transacting securities or other investments. See terms for more info.

Rate this article

positive
negative
Published On
2020-11-13 12:07

avatar
About the Author
Staff or Guest writer for The Dog of Wall Street.


buy-coffee
You've read 1 article in the last year
..thank you for supporting us and for visiting our site. Unlike many other sites, The Dog of Wall Street is available for everyone to read. Our focus is to provide great content for free. Do you like what we are doing? Buy us a cup coffee. It is the fuel that keeps us going..

Is Tesla Back? Has TSLA Stock Finally Bottomed?
Tesla Stock Analysis: Robo Taxis to the Rescue?
By Mike Sakuraba | 2 weeks ago

2 Stocks to Buy During an April Pullback
Here are 2 stocks I’d buy during an April pullback.
By Mike Sakuraba | 2 weeks ago

TSM Stock: Is This The True Winner of the AI Race?
TSM’s stock has gained nearly 40% this year which is about half of NVIDIA has returned.
By Mike Sakuraba | 2 weeks ago

Best Proxy for Bitcoin: Coinbase or IBIT
In this article, we’ll compare the iShares Bitcoin Trust to Coinbase to see which is the best proxy for Bitcoin on the stock market.
By Mike Sakuraba | 3 weeks ago

2 Under the Radar AI Stocks to Buy
If you’re tired of reading about NVIDIA, consider these two AI stocks to add while the chip market cools off.
By Mike Sakuraba | 3 weeks ago

3 Bold Predictions for the Second Quarter
So here’s what I’m expecting for the second quarter and I’ll throw in a couple of bold predictions as well!
By Mike Sakuraba | 3 weeks ago

2 Stocks Cathie Wood Keeps Buying That You Should Too
In the world of retail investing, Cathie Wood and her Ark Invest fund are extremely polarizing.
By Mike Sakuraba | 1 month ago

2 Under the Radar Stocks to Buy Before Others
One of the keys to investing has always been to identify weaknesses in stocks before others. Buy it when everyone hates it and when everyone loves it you’ll reap the rewards. Sounds easy enough right?
By Mike Sakuraba | 1 month ago