Li Auto (NASDAQ:LI) Rating Lowered to Neutral at Citigroup

Citigroup downgraded shares of Li Auto (NASDAQ:LI) from a buy rating to a neutral rating in a report released on Wednesday, MarketBeat reports.

Several other analysts have also recently issued reports on LI. Bank of America upped their price objective on shares of Li Auto from $30.00 to $31.00 and gave the company a buy rating in a research note on Thursday, August 29th. Barclays cut their price target on Li Auto from $25.00 to $22.00 and set an equal weight rating for the company in a report on Tuesday, May 21st. JPMorgan Chase & Co. lowered their price objective on Li Auto from $21.00 to $19.00 and set a neutral rating on the stock in a research note on Thursday, August 29th. Finally, Morgan Stanley cut their target price on Li Auto from $65.00 to $53.00 and set an overweight rating for the company in a research note on Tuesday, May 21st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $36.36.

Li Auto Trading Down 2.9 %

Shares of LI opened at $18.31 on Wednesday. Li Auto has a 52-week low of $17.44 and a 52-week high of $46.44. The stock has a market cap of $19.43 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. The firm’s fifty day moving average is $19.85 and its two-hundred day moving average is $24.93. The company has a quick ratio of 1.37, a current ratio of 1.76 and a debt-to-equity ratio of 0.14.

Institutional Investors Weigh In On Li Auto

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LI. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Li Auto by 58.7% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company’s stock worth $28,000 after acquiring an additional 573 shares during the last quarter. Blue Trust Inc. raised its position in Li Auto by 1,707.4% in the second quarter. Blue Trust Inc. now owns 1,952 shares of the company’s stock valued at $35,000 after purchasing an additional 1,844 shares during the period. Scarborough Advisors LLC acquired a new position in Li Auto during the fourth quarter worth $41,000. Barometer Capital Management Inc. acquired a new position in Li Auto during the fourth quarter worth $135,000. Finally, QRG Capital Management Inc. boosted its position in shares of Li Auto by 58.5% during the second quarter. QRG Capital Management Inc. now owns 11,731 shares of the company’s stock worth $210,000 after buying an additional 4,331 shares during the period. Hedge funds and other 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.