Li Auto (NASDAQ:LI) Trading Down 8.5% – What’s Next?

Shares of Li Auto Inc. (NASDAQ:LI) dropped 8.5% during mid-day trading on Tuesday . The stock traded as low as $27.28 and last traded at $27.91. Approximately 2,340,991 shares were traded during trading, a decline of 71% from the average daily volume of 8,055,697 shares. The stock had previously closed at $30.51.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LI. Macquarie reaffirmed a “neutral” rating and issued a $33.00 target price (up from $25.00) on shares of Li Auto in a research report on Friday. JPMorgan Chase & Co. decreased their price objective on shares of Li Auto from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Citigroup increased their price target on shares of Li Auto from $25.50 to $29.60 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Finally, Bank of America boosted their price objective on Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Li Auto has a consensus rating of “Moderate Buy” and a consensus price target of $32.66.

Li Auto Trading Down 7.4 %

The company has a quick ratio of 1.63, a current ratio of 1.76 and a debt-to-equity ratio of 0.14. The firm’s 50 day moving average is $21.29 and its two-hundred day moving average is $22.73. The stock has a market cap of $29.98 billion, a price-to-earnings ratio of 18.15 and a beta of 0.98.

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

Institutional Trading of Li Auto

Several hedge funds have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Li Auto by 58.7% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company’s stock valued at $28,000 after purchasing an additional 573 shares during the period. Blue Trust Inc. raised its stake in Li Auto by 1,707.4% during the 2nd quarter. Blue Trust Inc. now owns 1,952 shares of the company’s stock valued at $35,000 after acquiring an additional 1,844 shares in the last quarter. Scarborough Advisors LLC acquired a new position in Li Auto during the 4th quarter worth $41,000. Barometer Capital Management Inc. acquired a new position in shares of Li Auto during the fourth quarter valued at $135,000. Finally, QRG Capital Management Inc. increased its holdings in shares of Li Auto by 58.5% during the second quarter. QRG Capital Management Inc. now owns 11,731 shares of the company’s stock valued at $210,000 after purchasing an additional 4,331 shares during the period. 9.88% of the stock is currently owned by institutional investors.

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.