Li Auto Inc. (NASDAQ:LI – Get Free Report)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $18.87, but opened at $19.50. Li Auto shares last traded at $19.89, with a volume of 1,802,820 shares trading hands.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on LI. Bank of America raised their price objective on Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Morgan Stanley cut their target price on 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 cut Li Auto from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 4th. Barclays lowered their price objective on Li Auto from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 21st. Finally, JPMorgan Chase & Co. reduced their price target on Li Auto from $21.00 to $19.00 and set a “neutral” rating for the company in a research report 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 company. According to data from MarketBeat.com, Li Auto presently has an average rating of “Moderate Buy” and an average target price of $36.36.
Get Our Latest Stock Analysis on Li Auto
Li Auto Trading Up 3.0 %
Institutional Investors Weigh In On Li Auto
A number of institutional investors have recently modified their holdings of the stock. Crossmark Global Holdings Inc. lifted its holdings in shares of Li Auto by 4.7% during the 4th quarter. Crossmark Global Holdings Inc. now owns 37,479 shares of the company’s stock valued at $1,403,000 after buying an additional 1,679 shares during the period. Franchise Capital Ltd lifted its holdings in shares of Li Auto by 163.2% in the 4th quarter. Franchise Capital Ltd now owns 975,250 shares of the company’s stock worth $36,504,000 after acquiring an additional 604,773 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Li Auto by 510.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 76,450 shares of the company’s stock worth $2,370,000 after buying an additional 63,917 shares during the period. OLD Mission Capital LLC purchased a new stake in shares of Li Auto during the fourth quarter valued at $17,696,000. Finally, Swedbank AB purchased a new position in shares of Li Auto during the first quarter valued at $2,003,000. 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.
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