Li Auto (NASDAQ:LI) Price Target Cut to $18.50 by Analysts at Citigroup

Li Auto (NASDAQ:LI) had its price target decreased by equities researchers at Citigroup from $20.20 to $18.50 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential upside of 12.77% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Piper Sandler lifted their target price on Li Auto from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. Barclays dropped their target price on shares of Li Auto from $24.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Monday, December 1st. Zacks Research upgraded shares of Li Auto from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Li Auto in a research note on Monday, December 29th. Finally, Hsbc Global Res downgraded Li Auto from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Li Auto currently has an average rating of “Hold” and a consensus target price of $21.60.

Li Auto Stock Up 1.2%

Shares of NASDAQ:LI traded up $0.20 during mid-day trading on Thursday, hitting $16.41. 6,969,735 shares of the company traded hands, compared to its average volume of 4,406,741. The stock has a 50-day moving average price of $17.73 and a two-hundred day moving average price of $22.42. The stock has a market cap of $17.18 billion, a P/E ratio of 28.28 and a beta of 0.56. Li Auto has a 12-month low of $16.10 and a 12-month high of $33.12. The company has a current ratio of 1.80, a quick ratio of 1.67 and a debt-to-equity ratio of 0.05.

Institutional Trading of Li Auto

Institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its stake in Li Auto by 133.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,636,156 shares of the company’s stock worth $66,431,000 after purchasing an additional 1,505,991 shares during the period. American Century Companies Inc. lifted its stake in Li Auto by 4.6% in the third quarter. American Century Companies Inc. now owns 1,355,616 shares of the company’s stock worth $34,351,000 after acquiring an additional 60,172 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Li Auto during the second quarter valued at approximately $30,055,000. LMR Partners LLP raised its stake in Li Auto by 2,697.4% in the second quarter. LMR Partners LLP now owns 675,500 shares of the company’s stock worth $18,313,000 after buying an additional 651,353 shares in the last quarter. Finally, Maxi Investments CY Ltd bought a new position in shares of Li Auto in the 3rd quarter worth $16,040,000. Institutional investors own 9.88% of the company’s stock.

Li Auto Company Profile

Li Auto Inc is a Chinese automotive company that develops, manufactures and sells smart electric vehicles, with an early focus on range-extended electric SUVs designed for family use. The company is headquartered in China and serves the domestic market through a combination of online channels and a network of retail/showroom locations. Li Auto was founded to address range-anxiety in electric vehicle buyers by integrating a small internal-combustion engine as a range extender alongside a large battery, enabling longer driving range while retaining electric driving characteristics.

The company’s product lineup centers on multi‑occupant SUVs that combine electric propulsion, advanced in‑vehicle connectivity and driver‑assistance features.