Li Auto Inc. (NASDAQ:LI – Get Free Report) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 27,010,000 shares, a decline of 19.1% from the August 15th total of 33,380,000 shares. Based on an average daily volume of 6,620,000 shares, the days-to-cover ratio is currently 4.1 days.
Hedge Funds Weigh In On Li Auto
Several hedge funds have recently added to or reduced their stakes in LI. Brilliance Asset Management Ltd. grew its holdings in shares of Li Auto by 6.9% during the fourth quarter. Brilliance Asset Management Ltd. now owns 4,639,798 shares of the company’s stock worth $173,668,000 after purchasing an additional 299,531 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Li Auto during the second quarter worth approximately $21,626,000. Franchise Capital Ltd lifted its stake in Li Auto by 163.2% in the fourth quarter. Franchise Capital Ltd now owns 975,250 shares of the company’s stock valued at $36,504,000 after buying an additional 604,773 shares during the last quarter. SIH Partners LLLP boosted its holdings in shares of Li Auto by 508.2% in the first quarter. SIH Partners LLLP now owns 890,900 shares of the company’s stock valued at $26,976,000 after acquiring an additional 744,419 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Li Auto by 20.5% during the second quarter. American Century Companies Inc. now owns 726,684 shares of the company’s stock worth $12,993,000 after acquiring an additional 123,838 shares during the last quarter. 9.88% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on the stock. Bank of America increased their price objective on shares of Li Auto from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. cut their price objective on Li Auto from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Barclays lowered their target price on Li Auto from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Tuesday, May 21st. Morgan Stanley cut their price target on shares of Li Auto from $65.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 21st. Finally, Citigroup lowered shares of Li Auto from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Li Auto presently has a consensus rating of “Moderate Buy” and an average target price of $36.36.
Li Auto Stock Up 1.3 %
Shares of Li Auto stock traded up $0.24 during trading on Friday, hitting $19.12. 4,205,058 shares of the stock were exchanged, compared to its average volume of 7,756,497. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.76 and a quick ratio of 1.63. The firm’s 50-day moving average price is $19.76 and its 200 day moving average price is $24.27. The stock has a market cap of $20.29 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.78 and a beta of 0.96. Li Auto has a 12-month low of $17.44 and a 12-month high of $46.44.
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.