Li Auto (NASDAQ:LI) Rating Lowered to Neutral at The Goldman Sachs Group

Li Auto (NASDAQ:LI) was downgraded by equities researchers at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday, Marketbeat reports. They presently have a $19.00 price target on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 4.17% from the stock’s previous close.

LI has been the topic of several other reports. Jefferies Financial Group reiterated a “hold” rating and set a $17.50 price target (down from $28.80) on shares of Li Auto in a research report on Friday, January 23rd. Macquarie Infrastructure set a $15.00 price objective on shares of Li Auto in a research report on Thursday, January 15th. China Renaissance reaffirmed a “hold” rating and set a $18.50 price objective on shares of Li Auto in a research note on Monday, December 1st. Piper Sandler upgraded shares of Li Auto from a “neutral” rating to an “outperform” rating in a research note on Friday. Finally, HSBC lowered Li Auto from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $18.55.

Li Auto Price Performance

NASDAQ:LI opened at $18.24 on Tuesday. The business’s fifty day moving average is $17.47 and its 200 day moving average is $19.72. The company has a current ratio of 1.81, a quick ratio of 1.68 and a debt-to-equity ratio of 0.05. Li Auto has a 52-week low of $15.71 and a 52-week high of $32.03.

Hedge Funds Weigh In On Li Auto

Large investors have recently modified their holdings of the company. LMR Partners LLP boosted its stake in Li Auto by 2,697.4% in the second quarter. LMR Partners LLP now owns 675,500 shares of the company’s stock worth $18,313,000 after buying an additional 651,353 shares in the last quarter. ABC Arbitrage SA purchased a new position in shares of Li Auto during the third quarter worth approximately $865,000. American Century Companies Inc. lifted its holdings in shares of Li Auto by 12.6% in the 2nd quarter. American Century Companies Inc. now owns 1,295,444 shares of the company’s stock worth $35,119,000 after acquiring an additional 144,625 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Li Auto by 400.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 48,982 shares of the company’s stock worth $1,328,000 after acquiring an additional 39,196 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Li Auto by 65.3% in the 3rd quarter. SG Americas Securities LLC now owns 80,636 shares of the company’s stock valued at $2,043,000 after purchasing an additional 31,854 shares in the last quarter. 9.88% of the stock is owned by hedge funds and other institutional investors.

About Li Auto

Li Auto Inc is a Chinese automotive company that develops, manufactures and sells smart electric vehicles, with an early focus on range-extended electric SUVs designed for family use. The company is headquartered in China and serves the domestic market through a combination of online channels and a network of retail/showroom locations. Li Auto was founded to address range-anxiety in electric vehicle buyers by integrating a small internal-combustion engine as a range extender alongside a large battery, enabling longer driving range while retaining electric driving characteristics.

The company’s product lineup centers on multi?occupant SUVs that combine electric propulsion, advanced in?vehicle connectivity and driver?assistance features.