Li Auto (NASDAQ:LI) Downgraded to “Underweight” Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Li Auto (NASDAQ:LI) from a neutral rating to an underweight rating in a research report released on Monday, Marketbeat Ratings reports. They currently have $14.00 price target on the stock.

A number of other brokerages also recently weighed in on LI. China Renaissance reaffirmed a “hold” rating and set a $18.50 price objective on shares of Li Auto in a research report on Monday, December 1st. Citigroup cut their price objective on shares of Li Auto from $20.20 to $18.50 and set a “neutral” rating on the stock in a research report on Thursday, January 15th. The Goldman Sachs Group reiterated a “buy” rating and set a $27.00 price objective on shares of Li Auto in a research note on Monday, December 1st. Piper Sandler raised their target price on shares of Li Auto from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Finally, Barclays cut their price target on shares of Li Auto from $24.00 to $18.00 and set an “equal weight” rating on the stock in a report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $19.59.

Li Auto Stock Performance

Shares of NASDAQ LI opened at $18.35 on Monday. Li Auto has a 12-month low of $15.71 and a 12-month high of $33.12. The stock’s fifty day simple moving average is $16.99 and its two-hundred day simple moving average is $20.93. The company has a quick ratio of 1.67, a current ratio of 1.80 and a debt-to-equity ratio of 0.05.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Leonteq Securities AG purchased a new stake in shares of Li Auto in the fourth quarter worth about $608,000. Abacus Wealth Partners LLC purchased a new position in Li Auto during the fourth quarter valued at approximately $418,000. Ballentine Partners LLC raised its position in Li Auto by 9.6% during the fourth quarter. Ballentine Partners LLC now owns 13,786 shares of the company’s stock valued at $233,000 after acquiring an additional 1,208 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in Li Auto in the fourth quarter valued at approximately $201,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Li Auto by 53.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 92,756 shares of the company’s stock worth $1,600,000 after purchasing an additional 32,212 shares in the last quarter. 9.88% of the stock is currently owned by hedge funds and other institutional investors.

About Li Auto

Li Auto Inc is a Chinese automotive company that develops, manufactures and sells smart electric vehicles, with an early focus on range-extended electric SUVs designed for family use. The company is headquartered in China and serves the domestic market through a combination of online channels and a network of retail/showroom locations. Li Auto was founded to address range-anxiety in electric vehicle buyers by integrating a small internal-combustion engine as a range extender alongside a large battery, enabling longer driving range while retaining electric driving characteristics.

The company’s product lineup centers on multi‑occupant SUVs that combine electric propulsion, advanced in‑vehicle connectivity and driver‑assistance features.