Li Auto (NASDAQ:LI) Downgraded by Wall Street Zen to Sell

Key Points

• Li Auto's stock rating has been downgraded by Wall Street Zen from "hold" to "sell," indicating a negative outlook from analysts.
• Multiple analysts have reduced their price targets for the stock, with Barclays lowering it from $31 to $24 and Macquarie dropping it from $28 to $21.
• Despite the downgrades, Li Auto has a consensus rating of "Reduce" with an average price target of $26.26 according to MarketBeat data.

Li Auto (NASDAQ:LI - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

Several other equities research analysts have also issued reports on the stock. Sanford C. Bernstein reduced their price objective on shares of Li Auto from $26.00 to $25.00 and set a "market perform" rating for the company in a research note on Friday. Barclays dropped their target price on shares of Li Auto from $31.00 to $24.00 and set an "equal weight" rating on the stock in a report on Thursday, August 28th. Zacks Research downgraded shares of Li Auto from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 19th. Macquarie downgraded shares of Li Auto from a "neutral" rating to an "underperform" rating and dropped their target price for the stock from $28.00 to $21.00 in a report on Friday, August 22nd. Finally, BNP Paribas Exane started coverage on shares of Li Auto in a report on Monday, August 18th. They issued an "underperform" rating and a $18.00 target price on the stock. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, Li Auto presently has a consensus rating of "Reduce" and an average target price of $26.26.

Li Auto Stock Up 4.5%

Shares of NASDAQ:LI traded up $1.05 during trading on Friday, reaching $24.40. 8,264,232 shares of the company traded hands, compared to its average volume of 5,550,589. The firm has a fifty day simple moving average of $26.43 and a 200 day simple moving average of $26.55. The firm has a market cap of $25.55 billion, a P/E ratio of 23.24 and a beta of 0.97. Li Auto has a 1-year low of $18.11 and a 1-year high of $33.12. The company has a quick ratio of 1.57, a current ratio of 1.73 and a debt-to-equity ratio of 0.03.

Hedge Funds Weigh In On Li Auto

A number of large investors have recently modified their holdings of LI. Elevation Point Wealth Partners LLC bought a new stake in shares of Li Auto during the second quarter worth $27,000. MAI Capital Management increased its position in shares of Li Auto by 2,236.0% during the second quarter. MAI Capital Management now owns 1,168 shares of the company's stock worth $32,000 after acquiring an additional 1,118 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of Li Auto during the first quarter worth $33,000. Summit Securities Group LLC bought a new position in Li Auto in the first quarter valued at $50,000. Finally, CX Institutional bought a new position in Li Auto in the first quarter valued at $72,000. 9.88% of the stock is currently 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.