Li Auto (NASDAQ:LI) Price Target Lowered to $20.20 at Citigroup

Li Auto (NASDAQ:LI) had its price target decreased by Citigroup from $25.60 to $20.20 in a report published on Friday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

LI has been the topic of several other reports. Barclays cut their price target on shares of Li Auto from $31.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 28th. Sanford C. Bernstein reduced their price target on Li Auto from $26.00 to $25.00 and set a “market perform” rating for the company in a research report on Friday, August 29th. Daiwa America upgraded Li Auto to a “strong-buy” rating in a research note on Wednesday, September 3rd. Bank of America cut Li Auto from a “buy” rating to a “neutral” rating and set a $26.00 price objective on the stock. in a research note on Thursday, August 28th. Finally, CLSA raised Li Auto to a “strong-buy” rating in a report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $24.41.

Li Auto Stock Performance

Shares of LI stock opened at $18.37 on Friday. Li Auto has a 12 month low of $17.59 and a 12 month high of $33.12. The company’s fifty day simple moving average is $21.72 and its 200-day simple moving average is $25.05. The firm has a market cap of $19.23 billion, a PE ratio of 31.66 and a beta of 1.05. The company has a quick ratio of 1.57, a current ratio of 1.73 and a debt-to-equity ratio of 0.03.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Ovata Capital Management Ltd boosted its position in shares of Li Auto by 107.1% in the third quarter. Ovata Capital Management Ltd now owns 29,000 shares of the company’s stock valued at $756,000 after acquiring an additional 15,000 shares during the period. Tidal Investments LLC raised its stake in Li Auto by 13.6% in the 3rd quarter. Tidal Investments LLC now owns 100,878 shares of the company’s stock worth $2,556,000 after purchasing an additional 12,106 shares in the last quarter. Maxi Investments CY Ltd acquired a new stake in Li Auto in the 3rd quarter worth about $16,040,000. Mercer Global Advisors Inc. ADV bought a new stake in Li Auto in the 3rd quarter valued at about $227,000. Finally, Credit Agricole S A acquired a new position in shares of Li Auto during the 3rd quarter worth approximately $5,055,000. 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.