Li Auto (NASDAQ:LI) Cut to “Neutral” at Citigroup

Citigroup lowered shares of Li Auto (NASDAQ:LI) from a buy rating to a neutral rating in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports.

Several other brokerages also recently commented on LI. Barclays cut their target price on Li Auto from $25.00 to $22.00 and set an equal weight rating on the stock in a research note on Tuesday, May 21st. JPMorgan Chase & Co. reduced 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. Bank of America upped their target price on shares of Li Auto from $30.00 to $31.00 and gave the company a buy rating in a research note on Thursday, August 29th. Finally, Morgan Stanley reduced their price target on shares of Li Auto from $65.00 to $53.00 and set an overweight rating for the company in a research note on Tuesday, May 21st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Li Auto has a consensus rating of Moderate Buy and a consensus price target of $36.36.

Li Auto Trading Down 2.9 %

NASDAQ:LI opened at $18.31 on Wednesday. The stock has a market cap of $19.43 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.77 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.76 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average price is $19.85 and its 200-day moving average price is $24.98. Li Auto has a 52 week low of $17.44 and a 52 week high of $46.44.

Institutional Inflows and Outflows

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

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.