Li Auto (NASDAQ:LI) Raised to “Overweight” at JPMorgan Chase & Co.

Li Auto (NASDAQ:LI) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Friday, MarketBeat reports. The brokerage currently has a $40.00 target price on the stock, up from their previous target price of $22.00. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 30.17% from the stock’s previous close.

LI has been the topic of several other research reports. Barclays boosted their target price on shares of Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Macquarie raised shares of Li Auto from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.27.

Li Auto Price Performance

LI stock opened at $30.73 on Friday. The firm has a market cap of $32.60 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 3.27 and a beta of 0.92. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.13. Li Auto has a 12-month low of $17.44 and a 12-month high of $46.02. The company’s fifty day simple moving average is $24.76 and its 200 day simple moving average is $23.81.

Hedge Funds Weigh In On Li Auto

Large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in Li Auto in the 3rd quarter valued at about $39,000. Venturi Wealth Management LLC bought a new position in Li Auto in the 3rd quarter valued at about $50,000. BNP Paribas increased its stake in Li Auto by 300.0% in the 3rd quarter. BNP Paribas now owns 2,000 shares of the company’s stock valued at $51,000 after buying an additional 1,500 shares during the last quarter. Avior Wealth Management LLC increased its stake in Li Auto by 708.5% in the 3rd quarter. Avior Wealth Management LLC now owns 2,385 shares of the company’s stock valued at $61,000 after buying an additional 2,090 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Li Auto by 16.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the company’s stock valued at $84,000 after buying an additional 500 shares during the last quarter. Institutional investors 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.