Li Auto (NASDAQ:LI) Shares Gap Up After Analyst Upgrade

Li Auto Inc. (NASDAQ:LI) shares gapped up prior to trading on Tuesday after Citigroup raised their price target on the stock from $21.60 to $25.50. The stock had previously closed at $22.20, but opened at $24.19. Citigroup currently has a neutral rating on the stock. Li Auto shares last traded at $23.97, with a volume of 1,743,892 shares.

Several other analysts have also issued reports on the stock. Bank of America boosted their price target on shares of Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. dropped their target price on Li Auto from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Li Auto has a consensus rating of “Moderate Buy” and an average price target of $33.07.

Institutional Trading of Li Auto

Hedge funds and other institutional investors have recently bought and sold shares of the company. Scarborough Advisors LLC purchased a new stake in shares of Li Auto in the 4th quarter valued at about $41,000. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Li Auto by 58.7% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company’s stock worth $28,000 after purchasing an additional 573 shares during the last quarter. Blue Trust Inc. raised its stake 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 in the last quarter. Barometer Capital Management Inc. bought a new stake in Li Auto during the fourth quarter valued at approximately $135,000. Finally, Ballentine Partners LLC lifted its position in Li Auto by 20.6% during the first quarter. Ballentine Partners LLC now owns 7,199 shares of the company’s stock valued at $218,000 after purchasing an additional 1,232 shares during the last quarter. Institutional investors own 9.88% of the company’s stock.

Li Auto Trading Down 3.8 %

The stock’s 50 day simple moving average is $19.87 and its 200 day simple moving average is $23.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 1.76. The firm has a market cap of $25.22 billion, a PE ratio of 15.85 and a beta of 0.96.

Li Auto (NASDAQ:LI) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.14 earnings per share for the quarter. The business had revenue of $4.36 billion for 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.