Li Auto (NASDAQ:LI) Upgraded to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Li Auto (NASDAQ:LIGet Rating) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $27.00 target price on the stock.

According to Zacks, “Li Auto Inc. is an innovator in energy vehicle market. The Company designs, develops, manufactures, and sells premium smart electric SUVs. Li Auto Inc. is based in BEIJING, China. “

Other analysts have also issued reports about the stock. Bank of America reduced their price target on shares of Li Auto from $35.00 to $33.00 in a research note on Tuesday, May 10th. Citigroup reduced their price target on shares of Li Auto from $51.50 to $26.80 in a research note on Wednesday, May 11th. Morgan Stanley cut their target price on shares of Li Auto from $49.00 to $41.00 and set an overweight rating for the company in a research report on Wednesday, March 23rd. initiated coverage on shares of Li Auto in a research report on Thursday, March 24th. They set a buy rating and a $37.20 target price for the company. Finally, HSBC began coverage on shares of Li Auto in a research report on Friday, April 1st. They set a buy rating and a $35.00 target price for the company. Thirteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of Buy and an average price target of $40.74.

NASDAQ:LI opened at $24.28 on Wednesday. The company has a 50-day moving average price of $24.16 and a 200-day moving average price of $27.44. Li Auto has a 12 month low of $16.86 and a 12 month high of $37.45. The company has a current ratio of 3.89, a quick ratio of 3.76 and a debt-to-equity ratio of 0.17. The stock has a market cap of $24.91 billion, a price-to-earnings ratio of 2,428.00 and a beta of 1.75.

Li Auto (NASDAQ:LIGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.79. Li Auto had a net margin of 0.09% and a return on equity of 0.08%. The company had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.51 billion. During the same period last year, the company posted ($0.06) EPS. Li Auto’s revenue was up 167.5% on a year-over-year basis. Equities analysts forecast that Li Auto will post -0.33 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors grew its holdings in shares of Li Auto by 584.1% in the first quarter. Captrust Financial Advisors now owns 1,074 shares of the company’s stock worth $28,000 after purchasing an additional 917 shares during the last quarter. Elequin Capital LP bought a new position in shares of Li Auto in the first quarter worth about $32,000. Prospera Financial Services Inc bought a new position in shares of Li Auto in the first quarter worth about $65,000. Signaturefd LLC grew its holdings in Li Auto by 52.6% during the 4th quarter. Signaturefd LLC now owns 2,823 shares of the company’s stock worth $91,000 after acquiring an additional 973 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Li Auto by 495.7% during the 4th quarter. Quadrant Capital Group LLC now owns 3,020 shares of the company’s stock worth $97,000 after acquiring an additional 2,513 shares in the last quarter. Hedge funds and other institutional investors own 21.74% of the company’s stock.

About Li Auto (Get Rating)

Li Auto Inc, through its subsidiaries, designs, develops, manufactures, and sells new energy vehicles in the People's Republic of China. The company provides Li ONE, a six-seat smart electric sport utility vehicle that is equipped with smart vehicle solutions, navigation on ADAS, and automatic emergency breaking functionalities.

Further Reading

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