Li Auto (NASDAQ:LI) Stock Price Up 4.1% Following Analyst Upgrade

Li Auto Inc. (NASDAQ:LI) shares shot up 4.1% on Tuesday after Citigroup raised their price target on the stock from $25.50 to $29.60. Citigroup currently has a neutral rating on the stock. Li Auto traded as high as $26.85 and last traded at $26.71. 1,112,015 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 7,851,885 shares. The stock had previously closed at $25.65.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. decreased their target price on Li Auto from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Bank of America boosted their price objective on shares of Li Auto from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Li Auto has an average rating of “Moderate Buy” and a consensus price target of $33.66.

Institutional Trading of Li Auto

Several institutional investors have recently modified their holdings of the company. Brilliance Asset Management Ltd. increased its holdings in shares of Li Auto by 6.9% in the fourth quarter. Brilliance Asset Management Ltd. now owns 4,639,798 shares of the company’s stock valued at $173,668,000 after buying an additional 299,531 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Li Auto during the 2nd quarter worth about $21,626,000. Franchise Capital Ltd lifted its stake in Li Auto by 163.2% during the fourth quarter. Franchise Capital Ltd now owns 975,250 shares of the company’s stock valued at $36,504,000 after buying an additional 604,773 shares in the last quarter. SIH Partners LLLP boosted its holdings in shares of Li Auto by 508.2% in the first quarter. SIH Partners LLLP now owns 890,900 shares of the company’s stock worth $26,976,000 after buying an additional 744,419 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Li Auto by 20.5% in the second quarter. American Century Companies Inc. now owns 726,684 shares of the company’s stock worth $12,993,000 after acquiring an additional 123,838 shares in the last quarter. Institutional investors and hedge funds own 9.88% of the company’s stock.

Li Auto Trading Up 4.5 %

The company’s 50-day moving average is $20.67 and its 200 day moving average is $22.88. The company has a current ratio of 1.76, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14. The firm has a market cap of $31.72 billion, a PE ratio of 19.93 and a beta of 0.98.

Li Auto (NASDAQ:LI) last issued its earnings results on Wednesday, August 28th. The company reported $0.14 EPS for the quarter. The business had revenue of $4.36 billion during the quarter. Li Auto had a return on equity of 13.70% and a net margin of 7.65%.

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.