Li Auto (NASDAQ:LI) Now Covered by Analysts at Piper Sandler

Equities researchers at Piper Sandler initiated coverage on shares of Li Auto (NASDAQ:LI) in a report released on Tuesday, Marketbeat reports. The brokerage set a “neutral” rating and a $19.00 price target on the stock. Piper Sandler’s price target indicates a potential downside of 5.85% from the company’s previous close.

A number of other brokerages also recently issued reports on LI. Zacks Research raised Li Auto from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. BNP Paribas assumed coverage on Li Auto in a report on Monday, August 18th. They issued a “strong sell” rating for the company. CLSA raised Li Auto to a “strong-buy” rating in a research note on Monday, September 22nd. Bank of America downgraded shares of Li Auto from a “buy” rating to a “neutral” rating and set a $26.00 price objective for the company. in a research report on Thursday, August 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Li Auto in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Li Auto presently has a consensus rating of “Hold” and an average price target of $24.94.

Li Auto Price Performance

LI stock opened at $20.18 on Tuesday. The company has a quick ratio of 1.57, a current ratio of 1.73 and a debt-to-equity ratio of 0.03. The firm has a market cap of $21.13 billion, a price-to-earnings ratio of 19.22 and a beta of 1.05. The company’s fifty day simple moving average is $23.42 and its 200 day simple moving average is $25.70. Li Auto has a 12-month low of $19.10 and a 12-month high of $33.12.

Hedge Funds Weigh In On Li Auto

A number of institutional investors have recently modified their holdings of LI. Goldman Sachs Group Inc. grew its position in Li Auto by 133.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,636,156 shares of the company’s stock valued at $66,431,000 after purchasing an additional 1,505,991 shares during the period. Canada Pension Plan Investment Board acquired a new position in Li Auto during the first quarter worth $41,076,000. American Century Companies Inc. lifted its stake in shares of Li Auto by 12.6% in the second quarter. American Century Companies Inc. now owns 1,295,444 shares of the company’s stock valued at $35,119,000 after buying an additional 144,625 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Li Auto during the second quarter valued at about $30,055,000. Finally, Electron Capital Partners LLC acquired a new position in shares of Li Auto during the first quarter valued at about $24,658,000. 9.88% of the stock is owned by institutional investors and hedge funds.

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.