Li Auto (NASDAQ:LI) Shares Down 7.7% – What’s Next?

Li Auto Inc. (NASDAQ:LI) shares fell 7.7% during mid-day trading on Monday . The company traded as low as $20.60 and last traded at $21.29. 3,212,814 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 7,172,327 shares. The stock had previously closed at $23.07.

Analyst Ratings Changes

Several equities analysts have commented on LI shares. Nomura Securities raised Li Auto to a “hold” rating in a research report on Monday, March 17th. HSBC set a $38.50 price target on shares of Li Auto and gave the company a “buy” rating in a research report on Thursday, March 6th. Cfra Research upgraded shares of Li Auto to a “strong sell” rating in a report on Friday, March 21st. Macquarie lowered shares of Li Auto from an “outperform” rating to a “neutral” rating and set a $27.00 target price for the company. in a report on Monday, March 17th. Finally, JPMorgan Chase & Co. raised Li Auto from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $22.00 to $40.00 in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $35.73.

Li Auto Trading Down 6.8 %

The stock has a market cap of $22.82 billion, a P/E ratio of 15.93, a P/E/G ratio of 3.27 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.64. The firm’s 50 day moving average price is $26.45 and its 200-day moving average price is $25.10.

Institutional Investors Weigh In On Li Auto

Several large investors have recently bought and sold shares of the business. Daiwa Securities Group Inc. grew its position in Li Auto by 16.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the company’s stock worth $84,000 after purchasing an additional 500 shares during the period. Blue Trust Inc. boosted its stake in shares of Li Auto by 66.2% in the 4th quarter. Blue Trust Inc. now owns 5,058 shares of the company’s stock worth $130,000 after buying an additional 2,015 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Li Auto in the 4th quarter worth $129,000. SBI Securities Co. Ltd. bought a new stake in shares of Li Auto in the fourth quarter worth $191,000. Finally, Ballentine Partners LLC purchased a new stake in Li Auto during the fourth quarter valued at $223,000. 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.