Li Auto (NASDAQ:LI) Stock Price Breaks Above Fifty Day Moving Average - What's Next?

Key Points

• Li Auto shares moved above their 50-day moving average of $11.59, reaching $11.84 before last trading at $11.595; the stock remains below its 200-day average of $14.74.
• Analyst sentiment is cautious: MarketBeat reports an average “Reduce” rating and a $16.28 average price target, with 10 analysts rating the stock Hold and three rating it Sell.
• Li Auto reported quarterly adjusted earnings of a $0.22 loss per share and revenue of $3.78 billion; analysts expect a loss of $0.72 per share for the current fiscal year.

Li Auto Inc. Sponsored ADR (NASDAQ:LI - Get Free Report) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $11.59 and traded as high as $11.84. Li Auto shares last traded at $11.5950, with a volume of 4,787,037 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LI. Sanford C. Bernstein restated a "market perform" rating and issued a $14.50 target price on shares of Li Auto in a research note on Wednesday, August 26th. Weiss Ratings reiterated a "sell (d)" rating on shares of Li Auto in a research note on Wednesday, August 26th. Wall Street Zen lowered Li Auto from a "sell" rating to a "strong sell" rating in a report on Sunday, September 6th. Zacks Research cut Li Auto from a "hold" rating to a "strong sell" rating in a research note on Monday. Finally, Piper Sandler dropped their price objective on shares of Li Auto from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Thursday, August 27th. Ten analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Li Auto presently has an average rating of "Reduce" and an average target price of $16.28.

Li Auto Price Performance

The business's 50 day moving average is $11.59 and its two-hundred day moving average is $14.74. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.65 and a current ratio of 1.81. The firm has a market capitalization of $12.01 billion, a PE ratio of -17.31 and a beta of 0.40.

Li Auto (NASDAQ:LI - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported ($0.22) EPS for the quarter. The company had revenue of $3.78 billion during the quarter. Li Auto had a negative return on equity of 6.58% and a negative net margin of 4.44%. Equities research analysts anticipate that Li Auto Inc. Sponsored ADR will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Li Auto

A number of institutional investors and hedge funds have recently modified their holdings of LI. Barometer Capital Management Inc. purchased a new stake in Li Auto in the 1st quarter worth approximately $1,548,000. Quantinno Capital Management LP grew its position in shares of Li Auto by 160.6% during the 1st quarter. Quantinno Capital Management LP now owns 192,668 shares of the company's stock valued at $3,435,000 after purchasing an additional 118,733 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Li Auto during the 2nd quarter valued at $1,133,000. Xiamen Xinweidachuang Investment Partnership Limited Partnership purchased a new position in shares of Li Auto during the 2nd quarter valued at $57,833,177. Finally, Hsbc Holdings PLC increased its holdings in shares of Li Auto by 648.8% in the fourth quarter. Hsbc Holdings PLC now owns 727,702 shares of the company's stock worth $12,259,000 after purchasing an additional 630,516 shares during the period. 9.88% of the stock is owned by hedge funds and other institutional investors.

Li Auto Company Profile

Li Auto Inc is a Chinese automaker that designs, develops, manufactures and sells new energy vehicles. The company focuses on smart electric vehicles, including extended-range electric vehicles that combine a battery-powered drivetrain with an onboard engine generator, as well as battery-electric vehicles.

Its product lineup has included the Li ONE and the L-series range-extended electric SUVs, such as the Li L6, Li L7, Li L8 and Li L9. The company has also developed the Li MEGA, a battery-electric multi-purpose vehicle.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.