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

Shares of Li Auto Inc. (NASDAQ:LI) traded 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 were traded during trading, a decline of 86% from the average session volume of 7,851,885 shares. The stock had previously closed at $25.65.

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

Hedge Funds Weigh In On Li Auto

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. grew its holdings in 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 worth $28,000 after acquiring an additional 573 shares during the period. Blue Trust Inc. increased its holdings in shares of Li Auto by 1,707.4% in the 2nd 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. Scarborough Advisors LLC acquired a new stake in shares of Li Auto in the fourth quarter valued at about $41,000. Barometer Capital Management Inc. purchased a new stake in Li Auto during the fourth quarter worth about $135,000. Finally, QRG Capital Management Inc. grew its position in 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. 9.88% of the stock is currently owned by hedge funds and other institutional investors.

Li Auto Stock Performance

The stock’s fifty day simple moving average is $20.67 and its 200-day simple moving average is $22.88. 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 company has a market capitalization of $31.72 billion, a PE ratio of 19.93 and a beta of 0.98.

Li Auto (NASDAQ:LI) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.14 earnings per share (EPS) for the quarter. The firm 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.