Li Auto (NASDAQ:LI) Sets New 1-Year Low – Here’s What Happened

Li Auto Inc. Sponsored ADR (NASDAQ:LI) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $11.62 and last traded at $11.65, with a volume of 3101205 shares changing hands. The stock had previously closed at $11.91.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on LI shares. HSBC decreased their price target on shares of Li Auto from $17.20 to $15.60 and set a “hold” rating for the company in a research report on Wednesday, June 10th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $14.50 price target on shares of Li Auto in a report on Wednesday, August 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of Li Auto in a research note on Wednesday, August 26th. Zacks Research lowered shares of Li Auto from a “hold” rating to a “strong sell” rating in a report on Friday, August 28th. Finally, Piper Sandler decreased their price objective on shares of Li Auto from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $16.28.

Li Auto Trading Up 1.4%

The company has a market cap of $12.65 billion, a price-to-earnings ratio of -17.63 and a beta of 0.55. The firm has a 50-day moving average price of $12.46 and a 200 day moving average price of $15.13. The company has a current ratio of 1.81, a quick ratio of 1.65 and a debt-to-equity ratio of 0.11.

Li Auto (NASDAQ:LI) last issued its quarterly earnings results on Friday, July 31st. The company reported ($0.22) earnings per share for the quarter. The firm had revenue of $3.78 billion during the quarter. Li Auto had a negative net margin of 4.44% and a negative return on equity of 6.58%. As a group, sell-side analysts forecast that Li Auto Inc. Sponsored ADR will post -0.15 EPS for the current year.

Institutional Trading of Li Auto

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tidal Investments LLC boosted its holdings in shares of Li Auto by 10.7% in the 2nd quarter. Tidal Investments LLC now owns 47,986 shares of the company’s stock valued at $563,000 after buying an additional 4,650 shares during the period. WINTON GROUP Ltd acquired a new stake in Li Auto during the second quarter worth about $470,000. Engineers Gate Manager LP acquired a new stake in Li Auto during the second quarter worth about $500,000. Nykredit A S bought a new position in Li Auto in the second quarter worth about $816,000. Finally, Corient Private Wealth LP bought a new position in Li Auto in the second quarter worth about $146,000. 9.88% of the stock is owned by institutional investors and hedge funds.

About Li Auto

Li Auto Inc (NASDAQ: LI) is a Chinese new energy vehicle manufacturer that develops, manufactures and sells smart electric vehicles. The company has focused primarily on family-oriented vehicles, combining battery-electric powertrains with extended-range electric vehicle technology designed to provide additional driving range through an onboard engine-generator.

Li Auto’s product portfolio has included the Li ONE and the Li L-series of premium sport utility vehicles, including the L6, L7, L8 and L9.