Citigroup Cuts Li Auto (NASDAQ:LI) Price Target to $20.20

Li Auto (NASDAQ:LI) had its target price lowered by analysts at Citigroup from $25.60 to $20.20 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target points to a potential upside of 9.99% from the company’s current price.

Other research analysts also recently issued reports about the company. Barclays reduced their price objective on Li Auto from $31.00 to $24.00 and set an “equal weight” rating on the stock in a report on Thursday, August 28th. Wall Street Zen downgraded Li Auto from a “hold” rating to a “sell” rating in a research report on Saturday, August 30th. BNP Paribas initiated coverage on Li Auto in a report on Monday, August 18th. They issued a “strong sell” rating for the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $28.00 price objective (down from $33.00) on shares of Li Auto in a research note on Thursday, August 14th. Finally, Bank of America cut shares of Li Auto from a “buy” rating to a “neutral” rating and set a $26.00 target price on the stock. in a report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $24.41.

Li Auto Trading Down 0.4%

LI stock traded down $0.07 during mid-day trading on Friday, reaching $18.37. The company had a trading volume of 4,375,592 shares, compared to its average volume of 5,341,340. The company has a market capitalization of $19.23 billion, a PE ratio of 31.66 and a beta of 1.05. The firm has a 50 day moving average of $21.87 and a 200 day moving average of $25.12. Li Auto has a 12 month low of $17.59 and a 12 month high of $33.12. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.73 and a quick ratio of 1.57.

Institutional Trading of Li Auto

Institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in shares of Li Auto by 133.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,636,156 shares of the company’s stock worth $66,431,000 after acquiring an additional 1,505,991 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Li Auto in the first quarter worth $41,076,000. American Century Companies Inc. increased its position in shares of Li Auto by 4.6% during the third quarter. American Century Companies Inc. now owns 1,355,616 shares of the company’s stock worth $34,351,000 after purchasing an additional 60,172 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Li Auto during the 2nd quarter valued at $30,055,000. Finally, Electron Capital Partners LLC purchased a new stake in shares of Li Auto during the 1st quarter valued at $24,658,000. 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.