Why Li Auto Shares Are Trading Lower

Li Auto Inc LI shares are trading lower by 9.09% to $21.91 Friday morning after the company reported worse-than-expected third-quarter EPS and sales results.

What Happened?

Li Auto Inc reported quarterly losses of 18 cents per share which missed the analyst consensus estimate of a loss of 15 cents. The company also reported quarterly sales of $1.31 billion which missed the analyst consensus estimate of $1.40 billion by 6%. This is a 9% increase over sales of $1.21 billion in the same period last year.

Deliveries of Li ONEs jumped 5.6% year-over-year to 26,524 vehicles. Deliveries meanwhile fell 7.5% quarter-over-quarter...Read More

According to data from Benzinga Pro, Li Auto has a 52-week high of $41.49 and a 52-week low of $12.52.