Zacks Investment Research Upgrades Li Auto (NASDAQ:LI) to Strong-Buy

Li Auto (NASDAQ:LIGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday, Zacks.com reports. The brokerage currently has a $27.00 target price on the stock. Zacks Investment Research‘s price target indicates a potential upside of 24.08% from the stock’s current price.

According to Zacks, “Li Auto Inc. is an innovator in energy vehicle market. The Company designs, develops, manufactures, and sells premium smart electric SUVs. Li Auto Inc. is based in BEIJING, China. “

LI has been the topic of several other reports. assumed coverage on Li Auto in a research note on Thursday, March 24th. They issued a “buy” rating and a $37.20 target price on the stock. Bank of America lowered their target price on Li Auto from $35.00 to $33.00 in a research note on Tuesday, May 10th. HSBC assumed coverage on Li Auto in a research note on Friday, April 1st. They issued a “buy” rating and a $35.00 target price on the stock. UBS Group lifted their target price on Li Auto from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, April 4th. Finally, TheStreet downgraded Li Auto from a “c-” rating to a “d+” rating in a research note on Wednesday, April 20th. Thirteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Li Auto currently has a consensus rating of “Buy” and a consensus target price of $40.74.

NASDAQ:LI opened at $21.76 on Wednesday. The stock’s 50 day moving average price is $24.37 and its 200 day moving average price is $27.57. The company has a market capitalization of $22.32 billion, a PE ratio of 2,176.00 and a beta of 1.75. The company has a quick ratio of 3.76, a current ratio of 3.89 and a debt-to-equity ratio of 0.17. Li Auto has a 52-week low of $16.86 and a 52-week high of $37.45.

Li Auto (NASDAQ:LIGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.79. The firm had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.51 billion. Li Auto had a return on equity of 0.08% and a net margin of 0.09%. The firm’s quarterly revenue was up 167.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) EPS. As a group, sell-side analysts anticipate that Li Auto will post -0.33 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of LI. Captrust Financial Advisors raised its holdings in Li Auto by 584.1% during the first quarter. Captrust Financial Advisors now owns 1,074 shares of the company’s stock worth $28,000 after purchasing an additional 917 shares during the last quarter. Elequin Capital LP acquired a new position in shares of Li Auto in the first quarter worth $32,000. Prospera Financial Services Inc acquired a new position in shares of Li Auto in the first quarter worth $65,000. Signaturefd LLC raised its holdings in shares of Li Auto by 52.6% in the fourth quarter. Signaturefd LLC now owns 2,823 shares of the company’s stock worth $91,000 after acquiring an additional 973 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in Li Auto by 495.7% in the fourth quarter. Quadrant Capital Group LLC now owns 3,020 shares of the company’s stock valued at $97,000 after purchasing an additional 2,513 shares during the last quarter. 21.74% of the stock is owned by hedge funds and other institutional investors.

About Li Auto (Get Rating)

Li Auto Inc, through its subsidiaries, designs, develops, manufactures, and sells new energy vehicles in the People's Republic of China. The company provides Li ONE, a six-seat smart electric sport utility vehicle that is equipped with smart vehicle solutions, navigation on ADAS, and automatic emergency breaking functionalities.

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