Li Auto (NASDAQ:LI) Shares Gap Up on Analyst Upgrade

Li Auto Inc. (NASDAQ:LI) gapped up before the market opened on Tuesday after Citigroup raised their price target on the stock from $21.60 to $25.50. The stock had previously closed at $22.20, but opened at $24.19. Citigroup currently has a neutral rating on the stock. Li Auto shares last traded at $23.97, with a volume of 1,743,892 shares.

A number of other brokerages have also commented on LI. Bank of America boosted their target price on Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. cut their target price on Li Auto from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.07.

Institutional Trading of Li Auto

Institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Li Auto by 1,059.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 25,028 shares of the company’s stock valued at $447,000 after acquiring an additional 22,869 shares in the last quarter. Susquehanna International Securities Ltd. purchased a new position in Li Auto in the second quarter worth $257,000. HITE Hedge Asset Management LLC bought a new position in Li Auto in the 2nd quarter valued at $478,000. Bank of Montreal Can purchased a new stake in shares of Li Auto during the 2nd quarter valued at $2,041,000. Finally, DRW Securities LLC raised its stake in shares of Li Auto by 251.9% during the 2nd quarter. DRW Securities LLC now owns 68,397 shares of the company’s stock worth $1,220,000 after purchasing an additional 48,963 shares during the period. Institutional investors own 9.88% of the company’s stock.

Li Auto Stock Down 3.8 %

The company has a market capitalization of $25.22 billion, a PE ratio of 15.85 and a beta of 0.96. The stock’s fifty day moving average is $19.87 and its two-hundred day moving average is $23.25. The company has a current ratio of 1.76, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14.

Li Auto (NASDAQ:LI) last released its earnings results on Wednesday, August 28th. The company reported $0.14 earnings per share for the quarter. Li Auto had a net margin of 7.65% and a return on equity of 13.70%. The firm had revenue of $4.36 billion for the quarter.

Li Auto Company Profile

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.