Bank of America Cuts Li Auto (NASDAQ:LI) Price Target to $36.00

Li Auto (NASDAQ:LI) had its price target trimmed by Bank of America from $41.00 to $36.00 in a research note published on Tuesday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on LI. Morgan Stanley reduced their price objective on shares of Li Auto from $74.00 to $65.00 and set an overweight rating for the company in a research note on Monday, March 25th. Citigroup decreased 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. Barclays cut Li Auto from an overweight rating to an equal weight rating and cut their target price for the stock from $39.00 to $25.00 in a research report on Thursday, April 25th. Macquarie began coverage on Li Auto in a report on Monday, April 15th. They issued an outperform rating and a $40.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded Li Auto from a hold rating to a buy rating and cut their price target for the company from $45.00 to $41.00 in a report on Tuesday, February 6th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $40.50.

Li Auto Price Performance

NASDAQ LI opened at $20.31 on Tuesday. The company has a quick ratio of 1.48, a current ratio of 1.53 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $21.55 billion, a P/E ratio of 13.54, a PEG ratio of 1.72 and a beta of 1.10. The company has a 50-day moving average price of $27.83 and a 200-day moving average price of $32.48. Li Auto has a 52 week low of $19.38 and a 52 week high of $47.33.

Li Auto (NASDAQ:LI) last released its earnings results on Monday, February 26th. The company reported $0.49 earnings per share for the quarter. Li Auto had a return on equity of 16.65% and a net margin of 8.73%. The company had revenue of $5.88 billion for the quarter. Equities research analysts anticipate that Li Auto will post 1.43 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LI. Swedbank AB bought a new position in Li Auto in the 1st quarter worth about $2,003,000. Virtu Financial LLC bought a new stake in Li Auto during the first quarter valued at about $397,000. Tidal Investments LLC grew its stake in Li Auto by 6.2% in the first quarter. Tidal Investments LLC now owns 97,408 shares of the company’s stock valued at $2,950,000 after purchasing an additional 5,666 shares during the last quarter. Bayesian Capital Management LP lifted its position in Li Auto by 108.1% during the first quarter. Bayesian Capital Management LP now owns 53,705 shares of the company’s stock valued at $1,626,000 after acquiring an additional 27,900 shares during the last quarter. Finally, Capital International Investors increased its position in Li Auto by 1.1% during the 1st quarter. Capital International Investors now owns 389,400 shares of the company’s stock valued at $11,791,000 after buying an additional 4,422 shares in the last quarter. Institutional investors own 9.88% of the company’s stock.

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.