Li Auto (NASDAQ:LI) Stock Price Down 5.3% – Here’s Why

Li Auto Inc. (NASDAQ:LI)’s share price fell 5.3% during trading on Monday . The company traded as low as $24.10 and last traded at $24.15. 3,141,457 shares were traded during mid-day trading, a decline of 59% from the average session volume of 7,681,529 shares. The stock had previously closed at $25.49.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LI. Barclays boosted their target price on Li Auto from $22.00 to $31.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Citigroup increased their price objective on shares of Li Auto from $25.50 to $29.60 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Finally, Macquarie restated a “neutral” rating and set a $33.00 target price (up previously from $25.00) on shares of Li Auto in a report on Friday, October 4th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.94.

Li Auto Stock Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.64 and a current ratio of 1.76. The firm has a market capitalization of $25.81 billion, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 2.13 and a beta of 0.94. The stock’s fifty day moving average is $24.06 and its two-hundred day moving average is $22.16.

Institutional Investors Weigh In On Li Auto

Hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Li Auto in the 3rd quarter worth about $39,000. Venturi Wealth Management LLC bought a new stake in Li Auto in the third quarter valued at about $50,000. BNP Paribas lifted its holdings in Li Auto by 300.0% during the 3rd quarter. BNP Paribas now owns 2,000 shares of the company’s stock worth $51,000 after buying an additional 1,500 shares during the last quarter. Avior Wealth Management LLC grew its position in shares of Li Auto by 708.5% in the 3rd quarter. Avior Wealth Management LLC now owns 2,385 shares of the company’s stock worth $61,000 after acquiring an additional 2,090 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Li Auto by 55.9% in the 3rd quarter. Blue Trust Inc. now owns 3,043 shares of the company’s stock worth $78,000 after acquiring an additional 1,091 shares in the last quarter. Institutional investors and hedge funds own 9.88% of the company’s stock.

About Li Auto

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.