Shares of Li Auto Inc. (NASDAQ:LI – Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $19.05, but opened at $20.21. Li Auto shares last traded at $20.80, with a volume of 2,987,293 shares changing hands.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Citigroup cut shares of Li Auto from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 4th. Bank of America boosted their price target on Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. cut their price objective on Li Auto from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $36.36.
Read Our Latest Report on Li Auto
Li Auto Price Performance
Hedge Funds Weigh In On Li Auto
Several institutional investors have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Li Auto by 58.7% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company’s stock worth $28,000 after purchasing an additional 573 shares during the period. Blue Trust Inc. grew its stake in shares of Li Auto by 1,707.4% during the 2nd quarter. Blue Trust Inc. now owns 1,952 shares of the company’s stock worth $35,000 after acquiring an additional 1,844 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in shares of Li Auto in the fourth quarter valued at approximately $41,000. Barometer Capital Management Inc. bought a new stake in shares of Li Auto in the fourth quarter worth $135,000. Finally, QRG Capital Management Inc. boosted its holdings in Li Auto by 58.5% during the second quarter. QRG Capital Management Inc. now owns 11,731 shares of the company’s stock worth $210,000 after purchasing an additional 4,331 shares during the last quarter. 9.88% of the stock is currently owned by institutional investors and hedge funds.
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.
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