Li Auto's (LI) "Neutral" Rating Reiterated at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has reiterated a "neutral" rating for Li Auto, with a revised price target of $28.00, down from $33.00.
• Cfra Research upgraded Li Auto from a "strong sell" rating to a "hold" rating as six analysts now hold the stock, while two rate it as a buy.
• Li Auto reported earnings of $0.08 per share for the last quarter, missing expectations slightly, while its revenue increased by 1.1% compared to the same period last year.

Li Auto (NASDAQ:LI - Get Free Report)'s stock had its "neutral" rating restated by investment analysts at JPMorgan Chase & Co. in a research note issued on Thursday,Benzinga reports. They presently have a $28.00 price objective on the stock, down from their prior price objective of $33.00. JPMorgan Chase & Co.'s target price points to a potential upside of 12.45% from the company's previous close.

Separately, Cfra Research upgraded Li Auto from a "strong sell" rating to a "hold" rating in a research note on Tuesday, June 10th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $30.85.

Li Auto Stock Performance

Li Auto stock opened at $24.90 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.87 and a quick ratio of 1.72. The stock has a fifty day moving average price of $27.59 and a two-hundred day moving average price of $26.59. Li Auto has a 52-week low of $17.44 and a 52-week high of $33.12. The firm has a market capitalization of $26.07 billion, a P/E ratio of 23.71, a P/E/G ratio of 1.36 and a beta of 0.94.

Li Auto (NASDAQ:LI - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). Li Auto had a return on equity of 11.83% and a net margin of 5.60%. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same quarter in the prior year, the company earned $1.21 earnings per share. The business's revenue was up 1.1% compared to the same quarter last year. As a group, analysts anticipate that Li Auto will post 0.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Li Auto

A number of hedge funds and other institutional investors have recently bought and sold shares of LI. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Li Auto by 459.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,923,620 shares of the company's stock worth $426,475,000 after purchasing an additional 13,897,555 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Li Auto by 133.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,636,156 shares of the company's stock worth $66,431,000 after purchasing an additional 1,505,991 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Li Auto during the 1st quarter worth approximately $41,076,000. American Century Companies Inc. increased its position in shares of Li Auto by 12.6% during the 2nd quarter. American Century Companies Inc. now owns 1,295,444 shares of the company's stock worth $35,119,000 after purchasing an additional 144,625 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Li Auto during the 2nd quarter worth approximately $30,055,000. Institutional investors and hedge funds 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.

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