Li Auto (NASDAQ:LI) Price Target Raised to $31.00

Li Auto (NASDAQ:LI - Free Report) had its price target raised by Barclays from $22.00 to $31.00 in a research note released on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

LI has been the topic of a number of other reports. Citigroup boosted their target price on shares of Li Auto from $25.50 to $29.60 and gave the stock a "neutral" rating in a report on Monday, September 30th. Bank of America raised their target price on Li Auto from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. Macquarie reissued a "neutral" rating and issued a $33.00 price target (up previously from $25.00) on shares of Li Auto in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. reduced their target price on Li Auto from $21.00 to $19.00 and set a "neutral" rating on the stock in a report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $33.94.

Li Auto Stock Down 1.6 %

Shares of NASDAQ:LI traded down $0.41 during midday trading on Monday, hitting $24.65. The stock had a trading volume of 6,876,917 shares, compared to its average volume of 8,077,167. The company has a market cap of $26.15 billion, a P/E ratio of 18.46, a PEG ratio of 5.11 and a beta of 0.99. The business's 50-day simple moving average is $23.90 and its 200-day simple moving average is $22.26. Li Auto has a 12 month low of $17.44 and a 12 month high of $46.44. The company has a quick ratio of 1.63, a current ratio of 1.76 and a debt-to-equity ratio of 0.14.

Li Auto (NASDAQ:LI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.14 earnings per share for the quarter. Li Auto had a return on equity of 13.39% and a net margin of 7.20%. The firm had revenue of $4.36 billion for the quarter. On average, sell-side analysts forecast that Li Auto will post 1.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Li Auto

Several institutional investors have recently added to or reduced their stakes in LI. Ground Swell Capital LLC purchased a new position in shares of Li Auto during the third quarter valued at approximately $231,000. Van ECK Associates Corp lifted its position in shares of Li Auto by 4.3% in the 3rd quarter. Van ECK Associates Corp now owns 219,995 shares of the company's stock worth $5,955,000 after purchasing an additional 9,008 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Li Auto by 43.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 43,137 shares of the company's stock worth $1,106,000 after purchasing an additional 13,139 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of Li Auto by 12.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 35,000 shares of the company's stock valued at $898,000 after buying an additional 4,000 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Li Auto by 2,556.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,630,537 shares of the company's stock worth $93,503,000 after buying an additional 3,493,881 shares in the last quarter. Hedge funds and other 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.