Li Auto Inc. (NASDAQ:LI) Short Interest Down 24.2% in May

Li Auto Inc. (NASDAQ:LI - Get Free Report) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totalling 17,280,000 shares, a decrease of 24.2% from the April 30th total of 22,800,000 shares. Based on an average trading volume of 6,230,000 shares, the days-to-cover ratio is currently 2.8 days. Currently, 3.2% of the company's stock are short sold.

Analysts Set New Price Targets

LI has been the subject of a number of recent analyst reports. Cfra Research raised Li Auto to a "strong sell" rating in a research report on Friday, March 21st. Macquarie lowered shares of Li Auto from an "outperform" rating to a "neutral" rating and set a $27.00 target price for the company. in a research report on Monday, March 17th. HSBC set a $38.50 price target on shares of Li Auto and gave the company a "buy" rating in a research note on Thursday, March 6th. Nomura Securities raised Li Auto to a "hold" rating in a research report on Monday, March 17th. Finally, JPMorgan Chase & Co. raised Li Auto from a "neutral" rating to an "overweight" rating and upped their target price for the company from $22.00 to $40.00 in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Li Auto currently has an average rating of "Hold" and a consensus price target of $32.85.

Hedge Funds Weigh In On Li Auto

Large investors have recently made changes to their positions in the company. SVB Wealth LLC acquired a new position in shares of Li Auto during the 1st quarter worth approximately $33,000. Summit Securities Group LLC purchased a new position in Li Auto during the first quarter worth about $50,000. CX Institutional purchased a new stake in shares of Li Auto in the 1st quarter valued at approximately $72,000. Daiwa Securities Group Inc. grew its stake in shares of Li Auto by 16.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the company's stock valued at $84,000 after buying an additional 500 shares during the period. Finally, Brooklyn Investment Group lifted its stake in shares of Li Auto by 1,077.3% in the 1st quarter. Brooklyn Investment Group now owns 4,980 shares of the company's stock valued at $125,000 after purchasing an additional 4,557 shares during the last quarter. 9.88% of the stock is currently owned by institutional investors and hedge funds.

Li Auto Stock Down 0.3%

Shares of LI traded down $0.09 during mid-day trading on Thursday, hitting $29.37. The company's stock had a trading volume of 1,435,501 shares, compared to its average volume of 6,450,591. The company's 50-day moving average is $25.51 and its 200-day moving average is $25.05. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $30.76 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 3.27 and a beta of 0.98. Li Auto has a 52-week low of $17.44 and a 52-week high of $33.12.

Li Auto (NASDAQ:LI - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). Li Auto had a return on equity of 13.03% and a net margin of 7.20%. The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same period in the previous year, the company posted $1.21 earnings per share. The business's revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities research analysts forecast that Li Auto will post 0.96 EPS for the current fiscal year.

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.