Citigroup Downgrades Li Auto (NASDAQ:LI) to Neutral

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

Several other research firms have also commented on LI. Bank of America increased 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. lowered their target price on shares of Li Auto from $21.00 to $19.00 and set a neutral rating for the company in a research note on Thursday, August 29th. Morgan Stanley reduced their price target on Li Auto from $65.00 to $53.00 and set an overweight rating on the stock in a research report on Tuesday, May 21st. Finally, Barclays lowered their price objective on Li Auto from $25.00 to $22.00 and set an equal weight rating for the company in a research report on Tuesday, May 21st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $36.36.

Li Auto Stock Performance

Shares of NASDAQ:LI opened at $18.31 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 1.76 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $19.43 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. The firm has a 50 day moving average of $19.85 and a 200 day moving average of $24.93. Li Auto has a 52 week low of $17.44 and a 52 week high of $46.44.

Institutional Trading of Li Auto

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. boosted 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 valued at $28,000 after acquiring an additional 573 shares during the last quarter. Blue Trust Inc. raised its holdings in Li Auto by 1,707.4% in the 2nd quarter. Blue Trust Inc. now owns 1,952 shares of the company’s stock worth $35,000 after purchasing an additional 1,844 shares during the period. Scarborough Advisors LLC purchased a new position in Li Auto during the fourth quarter worth approximately $41,000. Barometer Capital Management Inc. acquired a new stake in Li Auto in the fourth quarter valued at approximately $135,000. Finally, QRG Capital Management Inc. grew its stake in Li Auto by 58.5% in the 2nd quarter. QRG Capital Management Inc. now owns 11,731 shares of the company’s stock valued at $210,000 after acquiring an additional 4,331 shares during the period. Institutional investors and hedge funds own 9.88% of the company’s stock.

About Li Auto

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.