Li Auto Inc. (NASDAQ:LI) shares declined on Thursday during pre-market trading after the company reported its second-quarter earnings.
Q2 Earnings Miss Estimates
Li Auto shares fell 4.03% to $21.69 during pre-market trading on Thursday at the time of writing, as the company reported a quarterly revenue decline of 4.5% year-on-year.
Check out the current price of LI stock here.
Pre-Market Performance Shows Investor Confidence
According to Benzinga Pro data, the stock of the Chinese electric vehicle (EV) manufacturer closed at $22.60, down 8.32%, on Wednesday.
See Also: Top Wall Street Forecasters Revamp Dick’s Sporting Goods Expectations Ahead Of Q2 Earnings
Li Auto’s market capitalization stands at $23.27 billion with an average trading volume of 5.39 million shares. The stock trades within a 52-week range of $17.44 to $33.11, currently positioned in the middle of that band.
Investor Focus Points
With a price-to-ratio of 21.20 and annual revenue of $144.75 billion as of March 31, Li Auto maintains scale in the competitive EV market.
Thursday’s earnings report will provide crucial insights into Li Auto’s quarterly performance and forward guidance in the evolving Chinese electric vehicle sector.
With a strong Value score of 91.24, Benzinga’s Edge Stock Rankings indicate that LI has a negative price trend across all time frames. Here is how the stock fares on other parameters.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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