Li Auto (NASDAQ:LI) Share Price Up 6.1% on Analysts’ Upgrade

Li Auto Inc. (NASDAQ: LI – Get a rating) The stock price rose 6.1% in Monday’s trading after Barclays raised its price target on the stock from $38.00 to $40.00. Barclays currently has an overweight rating on the stock. Li Auto traded up to $29.58 and last traded at $29.58. Approximately 124,836 shares were traded during trading, down 98% from the average daily volume of 7,712,602 shares. The stock previously closed at $27.89.

Other research analysts have also recently published research reports on the stock. Needham & Company LLC raised its price target on Li Auto shares from $37.00 to $43.00 and gave the stock a “buy” rating in a Tuesday, Dec. 7 report. Macquarie launched a hedge on Li Auto shares in a report on Wednesday, January 12. They set an “outperform” rating for the company. Ultimately, Zacks Investment Research cut Li Auto’s shares from a “hold” rating to a “sell” rating in a Wednesday, Jan. 12, report. One equity research analyst gave the stock a sell rating, nine issued a buy rating and one gave the company a strong buy rating. According to MarketBeat, Li Auto has an average rating of “Buy” and a consensus price target of $43.69.

Hedge funds have recently changed their stakes in the company. Voya Investment Management LLC increased its stake in Li Auto by 9.5% during the third quarter. Voya Investment Management LLC now owns 55,921 shares of the company worth $1,470,000 after purchasing an additional 4,829 shares during the period. AXA SA purchased a new equity stake from Li Auto in Q3 valued at approximately $12,519,000. The Manufacturers Life Insurance Company increased its stake in Li Auto shares by 25.8% in Q3. The Manufacturers Life Insurance Company now owns 97,600 shares of the company valued at $2,566,000 after acquiring an additional 20,000 shares during the period. Schonfeld Strategic Advisors LLC bought a new equity stake in Li Auto in Q2, valued at around $300,000. Finally, Banque Cantonale Vaudoise increased its stake in Li Auto shares by 11.2% in the 3rd quarter. Banque Cantonale Vaudoise now owns 66,774 shares of the company valued at $1,756,000 after acquiring an additional 6,711 shares during the period. 16.87% of the shares are currently held by institutional investors.

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The company’s 50-day moving average price is $28.85 and its 200-day moving average price is $29.70. The company has a market capitalization of $30.46 billion, a PE ratio of -348.63 and a beta of 2.20. The company has a debt ratio of 0.15, a quick ratio of 5.21 and a current ratio of 5.37.

Li Auto (NASDAQ:LI – Get a rating) last reported quarterly earnings data on Thursday, February 24. The company reported earnings per share of $0.34 for the quarter, beating analyst consensus estimates of ($0.20) by $0.54. The company posted revenue of $10.62 billion in the quarter, versus $9.92 billion expected by analysts. Li Auto had a negative net margin of 2.47% and a negative return on equity of 1.57%. The company’s quarterly revenue increased by 156.1% compared to the same quarter last year. In the same quarter a year earlier, the company posted earnings per share of $0.02. As a group, analysts expect Li Auto Inc. to post -0.21 earnings per share for the current year.

About Li Auto (NASDAQ:LI)

Li Auto Inc, through its subsidiaries, designs, develops, manufactures and sells smart electric sport utility vehicles (SUVs) in China. It offers Li ONE, a six-seater electric SUV equipped with a range of extension systems and intelligent vehicle solutions. The company was previously known as Leading Ideal Inc and changed its name to Li Auto Inc in July 2020.

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