Li Auto (NASDAQ:LI) Shares Down 8.5% - Here's What Happened

Li Auto Inc. (NASDAQ:LI - Get Free Report) fell 8.5% during trading on Tuesday . The stock traded as low as $27.28 and last traded at $27.91. 2,340,991 shares traded hands during trading, a decline of 71% from the average session volume of 8,055,697 shares. The stock had previously closed at $30.51.

Wall Street Analysts Forecast Growth

LI has been the topic of a number of research reports. Bank of America upped 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 restated a "neutral" rating and set a $33.00 price objective (up previously from $25.00) on shares of Li Auto in a report on Friday. JPMorgan Chase & Co. reduced their price objective 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. Finally, Citigroup upped 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. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $32.66.

Li Auto Stock Performance

The company's 50 day simple moving average is $21.29 and its 200 day simple moving average is $22.73. The stock has a market cap of $29.75 billion, a PE ratio of 18.15 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 1.76.

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 13.70% and a net margin of 7.65%. The business had revenue of $4.36 billion for the quarter.

Institutional Trading of Li Auto

Several hedge funds have recently added to or reduced their stakes in LI. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Li Auto during the 2nd quarter valued at $21,626,000. SIH Partners LLLP lifted its holdings in Li Auto by 508.2% during the first quarter. SIH Partners LLLP now owns 890,900 shares of the company's stock valued at $26,976,000 after purchasing an additional 744,419 shares during the last quarter. Franchise Capital Ltd boosted its position in Li Auto by 163.2% during the fourth quarter. Franchise Capital Ltd now owns 975,250 shares of the company's stock worth $36,504,000 after purchasing an additional 604,773 shares during the period. FIFTHDELTA Ltd purchased a new position in shares of Li Auto in the first quarter worth about $14,816,000. Finally, OLD Mission Capital LLC bought a new stake in shares of Li Auto in the fourth quarter valued at approximately $17,696,000. 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.