Citigroup Raises Li Auto (NASDAQ:LI) Price Target to $29.60

Li Auto (NASDAQ:LI - Free Report) had its target price increased by Citigroup from $25.50 to $29.60 in a research report report published on Monday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

LI has been the subject of a number of other reports. JPMorgan Chase & Co. cut their target price on shares of Li Auto from $21.00 to $19.00 and set a neutral rating for the company in a report on Thursday, August 29th. Bank of America raised their price target on shares of Li Auto from $30.00 to $31.00 and gave the stock a buy rating in a research note on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Li Auto presently has a consensus rating of Moderate Buy and an average price target of $33.66.

Li Auto Stock Performance

NASDAQ:LI traded down $0.13 during mid-day trading on Monday, reaching $25.65. The company's stock had a trading volume of 18,526,092 shares, compared to its average volume of 7,887,584. Li Auto has a 12-month low of $17.44 and a 12-month high of $46.44. The firm's fifty day moving average price is $20.27 and its two-hundred day moving average price is $22.89. The company has a current ratio of 1.76, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14. The stock has a market cap of $27.21 billion, a P/E ratio of 17.10 and a beta of 0.96.

Li Auto (NASDAQ:LI - Get Free Report) last released its earnings results on Wednesday, August 28th. The company reported $0.14 earnings per share for the quarter. The company had revenue of $4.36 billion for the quarter. Li Auto had a return on equity of 13.70% and a net margin of 7.65%.

Institutional Investors Weigh In On Li Auto

Institutional investors and hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. increased its holdings in Li Auto by 1,059.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 25,028 shares of the company's stock worth $447,000 after purchasing an additional 22,869 shares during the period. Susquehanna International Securities Ltd. acquired a new stake in shares of Li Auto in the second quarter valued at approximately $257,000. HITE Hedge Asset Management LLC purchased a new stake in shares of Li Auto in the second quarter valued at about $478,000. Bank of Montreal Can purchased a new stake in Li Auto during the 2nd quarter valued at approximately $2,041,000. Finally, DRW Securities LLC grew its position in Li Auto by 251.9% in the 2nd quarter. DRW Securities LLC now owns 68,397 shares of the company's stock valued at $1,220,000 after buying an additional 48,963 shares during the last quarter. 9.88% of the stock is owned by hedge funds and other institutional investors.

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.