Li Auto (NASDAQ:LI) Stock Price Down 7.7% – Time to Sell?

Li Auto Inc. (NASDAQ:LI) shares dropped 7.7% during trading on Monday . The stock traded as low as $20.60 and last traded at $21.29. Approximately 3,212,814 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 7,172,327 shares. The stock had previously closed at $23.07.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on LI shares. JPMorgan Chase & Co. upgraded Li Auto from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $22.00 to $40.00 in a research report on Friday, February 28th. Cfra Research raised shares of Li Auto to a “strong sell” rating in a research note on Friday, March 21st. HSBC set a $38.50 price target on shares of Li Auto and gave the company a “buy” rating in a research report on Thursday, March 6th. Nomura Securities raised shares of Li Auto to a “hold” rating in a research note on Monday, March 17th. Finally, Macquarie downgraded Li Auto from an “outperform” rating to a “neutral” rating and set a $27.00 price target on the stock. in a report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.73.

Li Auto Stock Performance

The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.13. The firm has a market cap of $22.14 billion, a P/E ratio of 15.66, a P/E/G ratio of 3.27 and a beta of 0.94. The business has a fifty day simple moving average of $26.21 and a 200-day simple moving average of $25.02.

Hedge Funds Weigh In On Li Auto

Large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio raised its position in shares of Li Auto by 66.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 58,525 shares of the company’s stock worth $1,404,000 after purchasing an additional 23,339 shares during the last quarter. Vident Advisory LLC increased its stake in Li Auto by 11.2% during the 4th quarter. Vident Advisory LLC now owns 19,914 shares of the company’s stock valued at $478,000 after purchasing an additional 1,998 shares in the last quarter. Tairen Capital Ltd purchased a new position in Li Auto in the fourth quarter worth about $8,435,000. Point72 Hong Kong Ltd lifted its stake in shares of Li Auto by 1,976.3% in the fourth quarter. Point72 Hong Kong Ltd now owns 212,673 shares of the company’s stock worth $5,102,000 after buying an additional 202,430 shares in the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of Li Auto by 17.6% during the fourth quarter. Quantinno Capital Management LP now owns 15,727 shares of the company’s stock valued at $377,000 after acquiring an additional 2,356 shares in the last quarter. 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.