Li Auto (NASDAQ:LI) Shares Gap Down After Analyst Downgrade

Li Auto Inc. Sponsored ADR (NASDAQ:LI) gapped down before the market opened on Monday after JPMorgan Chase & Co. downgraded the stock from a neutral rating to an underweight rating. The stock had previously closed at $18.97, but opened at $18.23. JPMorgan Chase & Co. now has a $14.00 price target on the stock. Li Auto shares last traded at $18.3550, with a volume of 1,537,883 shares.

Other equities research analysts have also issued research reports about the company. Piper Sandler lifted their price objective on Li Auto from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Li Auto in a research report on Monday, December 29th. Citigroup lowered their price target on shares of Li Auto from $20.20 to $18.50 and set a “neutral” rating on the stock in a research report on Thursday, January 15th. Jefferies Financial Group restated a “hold” rating and set a $17.50 price target (down from $28.80) on shares of Li Auto in a research note on Friday, January 23rd. Finally, HSBC downgraded shares of Li Auto from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $19.59.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in shares of 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 buying an additional 1,505,991 shares in the last quarter. LMR Partners LLP increased 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 acquiring an additional 651,353 shares during the last quarter. Maxi Investments CY Ltd purchased a new stake in shares of Li Auto in the 3rd quarter valued at about $16,040,000. SG Americas Securities LLC grew its holdings in shares of Li Auto by 324.2% during the fourth quarter. SG Americas Securities LLC now owns 342,025 shares of the company’s stock worth $5,790,000 after purchasing an additional 261,389 shares in the last quarter. Finally, Credit Agricole S A bought a new position in shares of Li Auto in the third quarter worth approximately $5,055,000. 9.88% of the stock is currently owned by hedge funds and other institutional investors.

Li Auto Trading Up 2.9%

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.80 and a quick ratio of 1.67. The business’s 50 day moving average is $17.01 and its two-hundred day moving average is $20.85.

About Li Auto

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.