JPMorgan Chase & Co. Upgrades Li Auto (NASDAQ:LI) to Overweight

JPMorgan Chase & Co. upgraded shares of Li Auto (NASDAQ:LI) from a neutral rating to an overweight rating in a report released on Friday, MarketBeat.com reports. JPMorgan Chase & Co. currently has $40.00 price target on the stock, up from their prior price target of $22.00.

Several other research analysts also recently issued reports on LI. Barclays raised their price objective on shares of Li Auto from $22.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Macquarie raised shares of Li Auto from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $36.27.

Li Auto Trading Down 3.7 %

Shares of Li Auto stock opened at $30.73 on Friday. Li Auto has a 1 year low of $17.44 and a 1 year high of $46.02. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.64 and a current ratio of 1.76. The company has a market capitalization of $32.60 billion, a P/E ratio of 22.76, a PEG ratio of 3.27 and a beta of 0.92. The company’s fifty day moving average is $24.76 and its two-hundred day moving average is $23.78.

Hedge Funds Weigh In On Li Auto

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aspex Management HK Ltd raised its position in shares of Li Auto by 55.0% in the third quarter. Aspex Management HK Ltd now owns 10,643,926 shares of the company’s stock valued at $273,017,000 after buying an additional 3,778,463 shares during the last quarter. FMR LLC raised its position in shares of Li Auto by 422.4% in the third quarter. FMR LLC now owns 4,252,398 shares of the company’s stock valued at $109,074,000 after buying an additional 3,438,410 shares during the last quarter. LMR Partners LLP acquired a new position in shares of Li Auto in the fourth quarter valued at approximately $16,266,000. OLD Mission Capital LLC acquired a new position in shares of Li Auto in the fourth quarter valued at approximately $14,704,000. Finally, RWC Asset Advisors US LLC raised its position in shares of Li Auto by 20.0% in the fourth quarter. RWC Asset Advisors US LLC now owns 3,181,050 shares of the company’s stock valued at $76,313,000 after buying an additional 530,390 shares during the last quarter. Institutional investors and hedge funds own 9.88% of the company’s stock.

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.