Li Auto (NASDAQ:LI) Stock Price Down 3.4%

Li Auto Inc. (NASDAQ:LI) shares dropped 3.4% on Thursday . The company traded as low as $18.27 and last traded at $18.28. Approximately 833,479 shares changed hands during trading, a decline of 90% from the average daily volume of 8,151,772 shares. The stock had previously closed at $18.92.

Wall Street Analyst Weigh In

LI has been the topic of a number of recent research reports. Morgan Stanley cut their target price on shares of Li Auto from $65.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 21st. Citigroup lowered their target price on shares of Li Auto from $57.30 to $48.50 and set a “buy” rating for the company in a research note on Friday, March 22nd. Macquarie initiated coverage on Li Auto in a report on Monday, April 15th. They set an “outperform” rating and a $40.00 price target for the company. Barclays dropped their price objective on Li Auto from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 21st. Finally, Bank of America dropped their price target on shares of Li Auto from $41.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, May 21st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.50.

Li Auto Stock Down 3.1 %

The stock has a market cap of $19.46 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 2.24 and a beta of 1.00. The company has a quick ratio of 1.37, a current ratio of 1.53 and a debt-to-equity ratio of 0.04. The stock has a fifty day moving average of $22.61 and a two-hundred day moving average of $29.33.

Li Auto (NASDAQ:LI) last announced its quarterly earnings results on Monday, May 20th. The company reported $0.08 earnings per share for the quarter. Li Auto had a net margin of 8.73% and a return on equity of 16.65%. The firm had revenue of $3.55 billion for the quarter. As a group, analysts predict that Li Auto Inc. will post 1.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Scarborough Advisors LLC acquired a new stake in shares of Li Auto during the fourth quarter worth approximately $41,000. Rakuten Securities Inc. acquired a new position in Li Auto during the 4th quarter worth $57,000. Barometer Capital Management Inc. bought a new stake in shares of Li Auto in the 4th quarter worth about $135,000. Employees Retirement System of Texas acquired a new stake in shares of Li Auto in the 3rd quarter valued at about $130,000. Finally, Ballentine Partners LLC bought a new position in shares of Li Auto during the fourth quarter worth about $223,000. 9.88% of the stock is currently owned by hedge funds and other institutional investors.

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.