Li Auto (NASDAQ:LI) Trading Down 4.2% - Here's What Happened

Key Points

• Li Auto's stock traded down 4.2% on Friday, with shares reaching as low as $24.78 following an increase in trading volume decline.
• Analysts have mixed sentiments, with two analysts rating the stock as a "Strong Buy" and others suggesting a "Hold" or "Sell" rating; the average price target stands at $25.79.
• Institutional investors have shown interest in Li Auto, with significant increases in holdings, as they now own 9.88% of the company's stock.

Shares of Li Auto Inc. Sponsored ADR (NASDAQ:LI - Get Free Report) traded down 4.2% on Friday . The company traded as low as $24.78 and last traded at $24.76. 1,695,807 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 5,516,822 shares. The stock had previously closed at $25.83.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LI shares. CLSA raised Li Auto to a "strong-buy" rating in a report on Monday, September 22nd. Zacks Research raised Li Auto from a "strong sell" rating to a "hold" rating in a research note on Monday. Barclays dropped 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 report on Thursday, August 28th. Bank of America lowered shares of Li Auto from a "buy" rating to a "neutral" rating and set a $26.00 price target on the stock. in a report on Thursday, August 28th. Finally, Daiwa America raised shares of Li Auto to a "strong-buy" rating in a research note on Wednesday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Li Auto currently has a consensus rating of "Hold" and an average price target of $25.79.

Li Auto Stock Performance

The company's 50-day simple moving average is $24.91 and its 200-day simple moving average is $26.05. The stock has a market capitalization of $25.97 billion, a price-to-earnings ratio of 23.62 and a beta of 1.01. The company has a current ratio of 1.73, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

Institutional Investors Weigh In On Li Auto

Institutional investors have recently made changes to their positions in the stock. Elevation Point Wealth Partners LLC bought a new position in shares of Li Auto during the second quarter worth about $27,000. MAI Capital Management raised its holdings in 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 purchasing an additional 1,118 shares during the last quarter. SVB Wealth LLC acquired a new position in shares of Li Auto in the 1st quarter worth approximately $33,000. Summit Securities Group LLC bought a new stake in shares of Li Auto in the 1st quarter valued at $50,000. Finally, CX Institutional bought a new stake in shares of Li Auto in the 1st quarter valued at $72,000. Institutional investors own 9.88% of the company's stock.

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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