Li Auto (NASDAQ:LI) Sets New 12-Month Low – Here’s What Happened

Li Auto Inc. Sponsored ADR (NASDAQ:LI)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $17.36 and last traded at $17.4170, with a volume of 2818730 shares trading hands. The stock had previously closed at $18.10.

Analyst Ratings Changes

A number of research firms have issued reports on LI. Zacks Research raised shares of Li Auto from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. HSBC reissued a “hold” rating and issued a $18.60 target price (down previously from $30.30) on shares of Li Auto in a research report on Wednesday. BNP Paribas started coverage on shares of Li Auto in a research note on Monday, August 18th. They issued a “strong sell” rating for the company. Bank of America lowered shares of Li Auto from a “buy” rating to a “neutral” rating and set a $26.00 target price on the stock. in a research report on Thursday, August 28th. Finally, Dbs Bank downgraded shares of Li Auto from a “moderate buy” rating to a “hold” rating in a report on Friday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $21.66.

Li Auto Trading Up 1.2%

The stock has a market capitalization of $18.64 billion, a PE ratio of 30.69 and a beta of 0.50. The company has a current ratio of 1.80, a quick ratio of 1.67 and a debt-to-equity ratio of 0.05. The business’s 50-day moving average is $21.11 and its two-hundred day moving average is $24.75.

Institutional Investors Weigh In On Li Auto

A number of hedge funds have recently bought and sold shares of the business. Canada Pension Plan Investment Board acquired a new position in Li Auto during the 1st quarter worth $41,076,000. Goldman Sachs Group Inc. raised its position 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 buying an additional 1,505,991 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Li Auto during the second quarter worth about $30,055,000. Electron Capital Partners LLC acquired a new stake in shares of Li Auto during the first quarter worth $24,658,000. Finally, LMR Partners LLP boosted its stake in Li Auto by 2,697.4% in the 2nd quarter. LMR Partners LLP now owns 675,500 shares of the company’s stock worth $18,313,000 after purchasing an additional 651,353 shares during the period. Institutional investors and hedge funds 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.