Li Auto (NASDAQ:LI) Downgraded by The Goldman Sachs Group to “Neutral”

The Goldman Sachs Group lowered shares of Li Auto (NASDAQ:LI) from a buy rating to a neutral rating in a report released on Tuesday, Marketbeat Ratings reports. The Goldman Sachs Group currently has $19.00 price target on the stock.

A number of other brokerages have also issued reports on LI. Barclays lowered their price target on Li Auto from $24.00 to $18.00 and set an “equal weight” rating for the company in a report on Monday, December 1st. Citigroup reduced their price objective on Li Auto from $20.20 to $18.50 and set a “neutral” rating on the stock in a report on Thursday, January 15th. Macquarie Infrastructure set a $15.00 target price on Li Auto in a research report on Thursday, January 15th. HSBC downgraded Li Auto from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 4th. Finally, JPMorgan Chase & Co. raised their price target on Li Auto from $14.00 to $15.50 and gave the company an “underweight” rating in a research note on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Li Auto currently has a consensus rating of “Reduce” and an average target price of $18.55.

Li Auto Price Performance

Li Auto stock opened at $17.97 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.81 and a quick ratio of 1.68. The stock has a market cap of $18.82 billion, a price-to-earnings ratio of 138.24 and a beta of 0.60. The firm has a 50-day moving average of $17.49 and a two-hundred day moving average of $19.68. Li Auto has a 1 year low of $15.71 and a 1 year high of $32.03.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in LI. Goldman Sachs Group Inc. lifted its stake in shares of Li Auto by 133.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,636,156 shares of the company’s stock worth $66,431,000 after purchasing an additional 1,505,991 shares during the last quarter. Empowered Funds LLC purchased a new position in Li Auto in the first quarter valued at about $506,000. PNC Financial Services Group Inc. raised its holdings in Li Auto by 21.7% in the second quarter. PNC Financial Services Group Inc. now owns 7,467 shares of the company’s stock worth $202,000 after purchasing an additional 1,333 shares in the last quarter. Geode Capital Management LLC raised its holdings in Li Auto by 0.7% in the second quarter. Geode Capital Management LLC now owns 176,684 shares of the company’s stock worth $4,790,000 after purchasing an additional 1,230 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. purchased a new stake in shares of Li Auto during the second quarter valued at about $107,000. 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.