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

Li Auto Inc. (NASDAQ:LI)’s share price gapped up before the market opened on Monday after Citigroup raised their price target on the stock from $25.50 to $29.60. The stock had previously closed at $25.78, but opened at $27.79. Citigroup currently has a neutral rating on the stock. Li Auto shares last traded at $27.47, with a volume of 3,100,497 shares.

LI has been the subject of a number of other reports. Bank of America increased their target price on shares of Li Auto from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. dropped their target price on shares of Li Auto from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Li Auto has an average rating of “Moderate Buy” and a consensus price target of $33.66.

Hedge Funds Weigh In On Li Auto

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Li Auto by 58.7% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company’s stock valued at $28,000 after purchasing an additional 573 shares in the last quarter. Corient Private Wealth LLC increased its stake in shares of Li Auto by 5.3% during the fourth quarter. Corient Private Wealth LLC now owns 12,664 shares of the company’s stock valued at $474,000 after purchasing an additional 641 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Li Auto by 7.0% during the first quarter. SG Americas Securities LLC now owns 10,427 shares of the company’s stock valued at $316,000 after buying an additional 685 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Li Auto by 2.6% during the second quarter. China Universal Asset Management Co. Ltd. now owns 31,000 shares of the company’s stock valued at $554,000 after buying an additional 800 shares during the last quarter. Finally, US Bancorp DE grew its holdings in shares of Li Auto by 5.2% during the first quarter. US Bancorp DE now owns 19,784 shares of the company’s stock valued at $599,000 after buying an additional 970 shares during the last quarter. Institutional investors own 9.88% of the company’s stock.

Li Auto Trading Up 11.5 %

The stock’s fifty day moving average price is $20.45 and its 200 day moving average price is $22.83. The company has a quick ratio of 1.63, a current ratio of 1.76 and a debt-to-equity ratio of 0.14. The stock has a market cap of $30.34 billion, a PE ratio of 19.07 and a beta of 0.96.

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

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.