Li Auto (NASDAQ:LI) Stock Price Down 3% - Here's Why

Key Points

• Li Auto's stock price decreased by 3% to $23.67, marked by a significant drop in trading volume, down 84% from the average session.
• Recent analyst reports have led to multiple downgrades, with Zacks Research changing its rating from "hold" to "strong sell" and Barclays lowering its target price from $31.00 to $24.00.
• Institutional investors are actively adjusting their positions, with significant percentage increases in ownership reported among several firms during recent quarters.

Shares of Li Auto Inc. Sponsored ADR (NASDAQ:LI - Get Free Report) traded down 3% during mid-day trading on Wednesday . The company traded as low as $23.42 and last traded at $23.67. 879,200 shares were traded during trading, a decline of 84% from the average session volume of 5,518,598 shares. The stock had previously closed at $24.40.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Zacks Research downgraded shares of Li Auto from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 19th. Barclays lowered their target price on shares of Li Auto from $31.00 to $24.00 and set an "equal weight" rating for the company in a research note on Thursday, August 28th. Macquarie cut shares of Li Auto from a "neutral" rating to an "underperform" rating and lowered their target price for the stock from $28.00 to $21.00 in a research note on Friday, August 22nd. Cfra Research raised shares of Li Auto from a "strong sell" rating to a "hold" rating in a research note on Tuesday, June 10th. Finally, BNP Paribas started coverage on shares of Li Auto in a research note on Monday, August 18th. They set a "strong sell" rating for the company. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $26.26.

Li Auto Trading Down 1.1%

The business's fifty day simple moving average is $26.35 and its two-hundred day simple moving average is $26.53. The stock has a market capitalization of $25.26 billion, a P/E ratio of 23.02 and a beta of 0.97. The company has a current ratio of 1.73, a quick ratio of 1.72 and a debt-to-equity ratio of 0.03.

Hedge Funds Weigh In On Li Auto

Hedge funds and other institutional investors have recently made changes to their positions in the business. Elevation Point Wealth Partners LLC bought a new position in shares of Li Auto during the 2nd quarter worth about $27,000. MAI Capital Management lifted its holdings in shares of Li Auto by 2,236.0% during the 2nd quarter. MAI Capital Management now owns 1,168 shares of the company's stock worth $32,000 after acquiring an additional 1,118 shares during the period. SVB Wealth LLC bought a new position in shares of Li Auto during the 1st quarter worth about $33,000. Summit Securities Group LLC bought a new position in shares of Li Auto during the 1st quarter worth about $50,000. Finally, CX Institutional bought a new position in Li Auto during the 1st quarter valued at about $72,000. 9.88% of the stock is owned by institutional investors.

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.

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