Li Auto (NASDAQ:LI) Stock Price Down 4% – Should You Sell?

Li Auto Inc. (NASDAQ:LI) dropped 4% on Monday . The company traded as low as $25.87 and last traded at $26.36. Approximately 1,942,689 shares traded hands during trading, a decline of 73% from the average daily volume of 7,244,907 shares. The stock had previously closed at $27.46.

Analysts Set New Price Targets

LI has been the topic of a number of recent research reports. Macquarie lowered Li Auto from an “outperform” rating to a “neutral” rating and set a $27.00 target price on the stock. in a research note on Monday. JPMorgan Chase & Co. upgraded Li Auto from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $22.00 to $40.00 in a research note on Friday, February 28th. Finally, HSBC set a $38.50 target price on Li Auto and gave the stock a “buy” rating in a research note on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.73.

Li Auto Stock Performance

The stock has a 50 day simple moving average of $25.53 and a 200 day simple moving average of $24.40. The stock has a market cap of $28.68 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 3.27 and a beta of 0.86. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13.

Institutional Investors Weigh In On Li Auto

Large investors have recently modified their holdings of the business. Aspex Management HK Ltd boosted its holdings in shares of Li Auto by 55.0% during the 3rd quarter. Aspex Management HK Ltd now owns 10,643,926 shares of the company’s stock valued at $273,017,000 after acquiring an additional 3,778,463 shares in the last quarter. FMR LLC boosted its holdings in shares of Li Auto by 422.4% during the 3rd quarter. FMR LLC now owns 4,252,398 shares of the company’s stock valued at $109,074,000 after acquiring an additional 3,438,410 shares in the last quarter. LMR Partners LLP acquired a new stake in shares of Li Auto during the 4th quarter valued at $16,266,000. OLD Mission Capital LLC acquired a new stake in shares of Li Auto during the 4th quarter valued at $14,704,000. Finally, RWC Asset Advisors US LLC boosted its holdings in shares of Li Auto by 20.0% during the 4th quarter. RWC Asset Advisors US LLC now owns 3,181,050 shares of the company’s stock valued at $76,313,000 after acquiring an additional 530,390 shares in the last quarter. Institutional investors and hedge funds own 9.88% of the company’s stock.

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.