Li Auto (NASDAQ:LI) Shares Gap Down After Analyst Downgrade

Li Auto Inc. Sponsored ADR (NASDAQ:LI)’s share price gapped down before the market opened on Wednesday after The Goldman Sachs Group downgraded the stock from a buy rating to a neutral rating. The stock had previously closed at $17.97, but opened at $17.08. The Goldman Sachs Group now has a $19.00 price target on the stock. Li Auto shares last traded at $17.2050, with a volume of 830,866 shares.

Other analysts also recently issued reports about the stock. Macquarie Infrastructure set a $15.00 price objective on shares of Li Auto in a research report on Thursday, January 15th. Barclays decreased their target price on shares of Li Auto from $24.00 to $18.00 and set an “equal weight” rating for the company in a research report on Monday, December 1st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Li Auto in a report on Monday, December 29th. China Renaissance reiterated a “hold” rating and set a $18.50 price objective on shares of Li Auto in a research report on Monday, December 1st. Finally, HSBC lowered Li Auto from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Li Auto presently has an average rating of “Reduce” and a consensus price target of $18.55.

Hedge Funds Weigh In On Li Auto

Large investors have recently bought and sold shares of the stock. Hsbc Holdings PLC lifted its stake in shares of Li Auto by 648.8% in the 4th quarter. Hsbc Holdings PLC now owns 727,702 shares of the company’s stock worth $12,259,000 after acquiring an additional 630,516 shares during the period. Alpine Global Management LLC acquired a new position in shares of Li Auto during the fourth quarter valued at approximately $175,000. Virtu Financial LLC bought a new stake in Li Auto during the fourth quarter worth approximately $479,000. Corient Private Wealth LLC raised its holdings in Li Auto by 70.0% during the fourth quarter. Corient Private Wealth LLC now owns 21,048 shares of the company’s stock worth $356,000 after purchasing an additional 8,666 shares in the last quarter. Finally, Vident Advisory LLC lifted its position in Li Auto by 21.1% in the fourth quarter. Vident Advisory LLC now owns 33,313 shares of the company’s stock worth $564,000 after purchasing an additional 5,793 shares during the period. Institutional investors and hedge funds own 9.88% of the company’s stock.

Li Auto Price Performance

The business has a 50-day simple moving average of $17.49 and a two-hundred day simple moving average of $19.66. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.81 and a quick ratio of 1.68.

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.