Li Auto (NASDAQ:LI) Trading Down 4.2%

Li Auto Inc. (NASDAQ:LI) shares traded down 4.2% on Friday . The company traded as low as $27.64 and last traded at $27.77. 3,137,070 shares changed hands during trading, a decline of 62% from the average session volume of 8,227,681 shares. The stock had previously closed at $28.98.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LI. Deutsche Bank Aktiengesellschaft upgraded Li Auto from a “hold” rating to a “buy” rating and reduced their target price for the stock from $45.00 to $41.00 in a research note on Tuesday, February 6th. Morgan Stanley reduced their price objective on Li Auto from $74.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, March 25th. Barclays downgraded Li Auto from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $39.00 to $25.00 in a report on Thursday, April 25th. Citigroup cut their price target on shares of Li Auto from $57.30 to $48.50 and set a “buy” rating on the stock in a report on Friday, March 22nd. Finally, Macquarie began coverage on shares of Li Auto in a research note on Monday, April 15th. They set an “outperform” rating and a $40.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.36.

Li Auto Trading Down 3.4 %

The firm has a market cap of $29.71 billion, a PE ratio of 18.06 and a beta of 1.10. The company has a 50-day simple moving average of $32.35 and a 200 day simple moving average of $33.49. The company has a current ratio of 1.57, a quick ratio of 1.48 and a debt-to-equity ratio of 0.03.

Li Auto (NASDAQ:LI) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.49 earnings per share (EPS) for the quarter. The firm had revenue of $5.88 billion for the quarter. Li Auto had a net margin of 9.44% and a return on equity of 18.37%. As a group, sell-side analysts forecast that Li Auto Inc. will post 1.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Li Auto

A number of hedge funds have recently bought and sold shares of LI. Scarborough Advisors LLC purchased a new position in Li Auto during the fourth quarter valued at $41,000. Concourse Financial Group Securities Inc. lifted its stake in Li Auto by 186.0% in the 3rd quarter. Concourse Financial Group Securities Inc. now owns 1,430 shares of the company’s stock valued at $51,000 after buying an additional 930 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in Li Auto in the 4th quarter worth about $57,000. Barometer Capital Management Inc. purchased a new stake in Li Auto during the 4th quarter worth approximately $135,000. Finally, Employees Retirement System of Texas acquired a new position in shares of Li Auto during the third quarter valued at approximately $130,000. Hedge funds and other institutional investors own 9.88% of the company’s stock.

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.