Citigroup Cuts Li Auto (NASDAQ:LI) Price Target to $18.50

Li Auto (NASDAQ:LI) had its price objective decreased by Citigroup from $20.20 to $18.50 in a report published on Thursday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other brokerages have also issued reports on LI. Hsbc Global Res lowered Li Auto from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 4th. Weiss Ratings restated a “sell (d+)” rating on shares of Li Auto in a research note on Monday, December 29th. Barclays decreased their target price on Li Auto from $24.00 to $18.00 and set an “equal weight” rating for the company in a report on Monday, December 1st. Piper Sandler increased their price target on shares of Li Auto from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Finally, China Renaissance restated a “hold” rating and set a $18.50 price objective on shares of Li Auto in a research note on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $21.05.

Li Auto Stock Performance

LI opened at $16.19 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.67 and a current ratio of 1.80. The firm’s 50-day moving average price is $17.57 and its 200-day moving average price is $22.27. Li Auto has a 52-week low of $15.87 and a 52-week high of $33.12.

Institutional Investors Weigh In On Li Auto

A number of hedge funds and other institutional investors have recently made changes to their positions in LI. Elevation Point Wealth Partners LLC acquired a new position in shares of Li Auto in the 2nd quarter valued at $27,000. MAI Capital Management increased its holdings in Li Auto by 2,236.0% in the second quarter. MAI Capital Management now owns 1,168 shares of the company’s stock valued at $32,000 after buying an additional 1,118 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new position in Li Auto in the second quarter valued at $107,000. Hantz Financial Services Inc. raised its position in shares of Li Auto by 1,196.9% in the second quarter. Hantz Financial Services Inc. now owns 4,150 shares of the company’s stock worth $113,000 after acquiring an additional 3,830 shares during the period. Finally, Tuttle Capital Management LLC purchased a new stake in shares of Li Auto during the 4th quarter worth about $170,000. Institutional investors and hedge funds 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.