Li Auto (NASDAQ:LI) Downgraded to Neutral at Citigroup

Citigroup downgraded shares of Li Auto (NASDAQ:LI) from a buy rating to a neutral rating in a research note issued to investors on Wednesday morning, MarketBeat reports.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. lowered their price target on Li Auto from $21.00 to $19.00 and set a neutral rating on the stock in a research report on Thursday, August 29th. Bank of America lifted their price target on Li Auto from $30.00 to $31.00 and gave the stock a buy rating in a research report on Thursday, August 29th. Morgan Stanley reduced their price objective on Li Auto from $65.00 to $53.00 and set an overweight rating for the company in a research report on Tuesday, May 21st. Finally, Barclays dropped their target price on shares of 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. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $36.36.

Li Auto Price Performance

NASDAQ LI opened at $18.77 on Wednesday. Li Auto has a 1 year low of $17.44 and a 1 year high of $46.44. The company has a fifty day simple moving average of $19.83 and a 200 day simple moving average of $25.12. The company has a current ratio of 1.76, a quick ratio of 1.37 and a debt-to-equity ratio of 0.14. The company has a market cap of $19.92 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.77 and a beta of 0.97.

Institutional Investors Weigh In On Li Auto

Several institutional investors and hedge funds have recently bought and sold shares of the business. Brilliance Asset Management Ltd. grew its stake in shares of Li Auto by 6.9% in the 4th quarter. Brilliance Asset Management Ltd. now owns 4,639,798 shares of the company’s stock valued at $173,668,000 after purchasing an additional 299,531 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Li Auto during the second quarter worth $21,626,000. Franchise Capital Ltd lifted its holdings in shares of Li Auto by 163.2% during the fourth quarter. Franchise Capital Ltd now owns 975,250 shares of the company’s stock valued at $36,504,000 after acquiring an additional 604,773 shares during the period. SIH Partners LLLP boosted its stake in shares of Li Auto by 508.2% in the 1st quarter. SIH Partners LLLP now owns 890,900 shares of the company’s stock valued at $26,976,000 after purchasing an additional 744,419 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Li Auto by 20.5% in the 2nd quarter. American Century Companies Inc. now owns 726,684 shares of the company’s stock worth $12,993,000 after purchasing an additional 123,838 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.