Li Auto (NASDAQ:LI) Shares Down 3.4%

Li Auto Inc. (NASDAQ:LI)’s share price traded down 3.4% on Thursday . The company traded as low as $18.27 and last traded at $18.28. 833,479 shares were traded during mid-day trading, a decline of 90% from the average session volume of 8,151,772 shares. The stock had previously closed at $18.92.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Macquarie assumed coverage on Li Auto in a report on Monday, April 15th. They issued an “outperform” rating and a $40.00 target price on the stock. Bank of America reduced their target price on Li Auto from $41.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. Morgan Stanley reduced their target price on Li Auto from $65.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, May 21st. Barclays cut their price objective on Li Auto from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 21st. Finally, Citigroup cut their price objective on Li Auto from $57.30 to $48.50 and set a “buy” rating on the stock in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.08.

Li Auto Stock Performance

The firm has a market capitalization of $18.97 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 2.22 and a beta of 1.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.53 and a quick ratio of 1.37. The stock has a 50-day moving average price of $22.22 and a 200-day moving average price of $29.14.

Li Auto (NASDAQ:LI) last announced its earnings results on Monday, May 20th. The company reported $0.08 earnings per share (EPS) for the quarter. Li Auto had a return on equity of 16.65% and a net margin of 8.73%. The business had revenue of $3.55 billion for the quarter. On average, research analysts expect that Li Auto Inc. will post 1.04 EPS for the current fiscal year.

Institutional Trading of Li Auto

Hedge funds and other institutional investors have recently modified their holdings of the business. Deutsche Bank AG increased its holdings in Li Auto by 100.8% in the third quarter. Deutsche Bank AG now owns 15,273 shares of the company’s stock valued at $544,000 after buying an additional 1,990,089 shares during the last quarter. Ninety One UK Ltd acquired a new position in Li Auto in the fourth quarter valued at approximately $35,896,000. Ariose Capital Management Ltd acquired a new position in Li Auto in the fourth quarter valued at approximately $29,555,000. SIH Partners LLLP boosted its stake in Li Auto by 508.2% in the first quarter. SIH Partners LLLP now owns 890,900 shares of the company’s stock valued at $26,976,000 after acquiring an additional 744,419 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new position in Li Auto in the third quarter valued at approximately $24,312,000. 9.88% of the stock is owned by hedge funds and other institutional investors.

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.