Daiwa America Upgrades Li Auto (NASDAQ:LI) to "Strong-Buy"

Key Points

• Li Auto was upgraded to a "strong-buy" rating by Daiwa America, highlighting a positive shift in analyst outlook for the company.
• In contrast, several other analysts have recently lowered their target prices, with an overall consensus rating of "Reduce" and a target price of $26.26.
• The company's stock opened at $23.98 and has experienced significant price fluctuations over the past year, with a low of $18.11 and a high of $33.12.

Daiwa America upgraded shares of Li Auto (NASDAQ:LI - Free Report) to a strong-buy rating in a report issued on Wednesday, September 3rd,Zacks.com reports.

A number of other equities research analysts also recently issued reports on LI. BNP Paribas Exane initiated coverage on Li Auto in a research report on Monday, August 18th. They set an "underperform" rating and a $18.00 price target on the stock. BNP Paribas assumed coverage on shares of Li Auto in a research report on Monday, August 18th. They issued a "strong sell" rating on the stock. Sanford C. Bernstein cut their price target on shares of Li Auto from $26.00 to $25.00 and set a "market perform" rating on the stock in a report on Friday, August 29th. Macquarie downgraded 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. Finally, Bank of America downgraded shares of Li Auto from a "buy" rating to a "neutral" rating and set a $26.00 target price for the company. in a research note on Thursday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $26.26.

Li Auto Stock Down 0.8%

Shares of Li Auto stock traded down $0.19 during trading hours on Wednesday, reaching $24.04. 1,527,726 shares of the company's stock were exchanged, compared to its average volume of 5,489,943. The company has a current ratio of 1.73, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $25.99 and a two-hundred day moving average of $26.45. The stock has a market cap of $25.17 billion, a P/E ratio of 22.88 and a beta of 0.97. Li Auto has a fifty-two week low of $18.65 and a fifty-two week high of $33.12.

Institutional Investors Weigh In On Li Auto

Several institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in Li Auto during the fourth quarter valued at $544,000. First Trust Advisors LP boosted its stake in shares of Li Auto by 15.2% during the fourth quarter. First Trust Advisors LP now owns 10,014 shares of the company's stock valued at $240,000 after purchasing an additional 1,324 shares during the period. Northern Trust Corp boosted its stake in shares of Li Auto by 38.0% during the fourth quarter. Northern Trust Corp now owns 488,151 shares of the company's stock valued at $11,711,000 after purchasing an additional 134,301 shares during the period. Centiva Capital LP purchased a new stake in shares of Li Auto during the fourth quarter valued at $269,000. Finally, Laird Norton Wetherby Wealth Management LLC boosted its stake in shares of Li Auto by 2.2% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,174 shares of the company's stock valued at $604,000 after purchasing an additional 547 shares during the period. Institutional investors 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.