Li Auto (NASDAQ:LI) Stock Price Down 3.4%

Li Auto Inc. (NASDAQ:LI) shares dropped 3.4% on Thursday . The stock traded as low as $18.27 and last traded at $18.28. Approximately 833,479 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 8,151,772 shares. The stock had previously closed at $18.92.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LI. Morgan Stanley decreased their price target on shares of Li Auto from $65.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, May 21st. Bank of America dropped their price target on Li Auto from $41.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, May 21st. Macquarie began coverage on Li Auto in a research report on Monday, April 15th. They issued an “outperform” rating and a $40.00 price objective for the company. Citigroup dropped their target price 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, Barclays reduced their price target on shares of Li Auto from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Tuesday, May 21st. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Li Auto presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.50.

Li Auto Stock Performance

The firm has a market cap of $19.46 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 2.24 and a beta of 1.00. The stock’s 50-day moving average price is $22.61 and its 200 day moving average price is $29.33. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.53 and a quick ratio of 1.37.

Li Auto (NASDAQ:LI) last released its earnings results on Monday, May 20th. The company reported $0.08 earnings per share (EPS) for the quarter. Li Auto had a return on equity of 16.65% and a net margin of 8.73%. The business had revenue of $3.55 billion for the quarter. As a group, equities analysts predict that Li Auto Inc. will post 1.04 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LI. Advisors Asset Management Inc. boosted its position in Li Auto by 3.4% during the third quarter. Advisors Asset Management Inc. now owns 14,458 shares of the company’s stock worth $515,000 after purchasing an additional 469 shares during the period. Corient Private Wealth LLC lifted its position in Li Auto by 5.3% during the fourth quarter. Corient Private Wealth LLC now owns 12,664 shares of the company’s stock worth $474,000 after acquiring an additional 641 shares during the last quarter. SG Americas Securities LLC lifted its position in Li Auto by 7.0% during the first quarter. SG Americas Securities LLC now owns 10,427 shares of the company’s stock worth $316,000 after acquiring an additional 685 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of Li Auto by 7.6% in the fourth quarter. Quadrant Capital Group LLC now owns 10,497 shares of the company’s stock valued at $393,000 after purchasing an additional 745 shares during the last quarter. Finally, Caprock Group LLC lifted its holdings in shares of Li Auto by 10.0% during the fourth quarter. Caprock Group LLC now owns 8,814 shares of the company’s stock worth $330,000 after buying an additional 802 shares in the last quarter. 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.