Li Auto Inc. (NASDAQ:LI – Get Free Report)’s share price gapped down before the market opened on Monday . The stock had previously closed at $21.22, but opened at $20.55. Li Auto shares last traded at $20.75, with a volume of 832,587 shares changing hands.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on LI shares. Morgan Stanley dropped their price objective on Li Auto from $65.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, May 21st. Bank of America decreased their price objective on shares of Li Auto from $41.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, May 21st. Finally, Barclays cut their target price on Li Auto from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 21st. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.08.
Get Our Latest Research Report on Li Auto
Li Auto Stock Up 2.4 %
Institutional Trading of Li Auto
Hedge funds have recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. lifted its holdings in shares of Li Auto by 4.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 37,479 shares of the company’s stock worth $1,403,000 after buying an additional 1,679 shares during the last quarter. Franchise Capital Ltd raised its stake in Li Auto by 163.2% during the 4th quarter. Franchise Capital Ltd now owns 975,250 shares of the company’s stock valued at $36,504,000 after purchasing an additional 604,773 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Li Auto by 510.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 76,450 shares of the company’s stock valued at $2,370,000 after purchasing an additional 63,917 shares during the period. OLD Mission Capital LLC acquired a new stake in Li Auto in the 4th quarter worth $17,696,000. Finally, Swedbank AB bought a new position in shares of Li Auto during the 1st quarter worth about $2,003,000. 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.
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