JPMorgan Chase & Co. Reiterates “Neutral” Rating for Li Auto (NASDAQ:LI)

Li Auto (NASDAQ:LI)‘s stock had its “neutral” rating reissued by analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. They currently have a $28.00 price target on the stock, down from their previous price target of $33.00. JPMorgan Chase & Co.‘s target price suggests a potential upside of 15.75% from the company’s current price.

Separately, Cfra Research raised Li Auto from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 10th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Li Auto currently has an average rating of “Hold” and an average price target of $30.85.

Li Auto Stock Up 1.9%

Li Auto stock opened at $24.19 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.87 and a quick ratio of 1.72. Li Auto has a 1-year low of $17.44 and a 1-year high of $33.12. The company has a market cap of $25.33 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 1.35 and a beta of 0.94. The stock’s 50 day moving average price is $27.38 and its 200 day moving average price is $26.60.

Li Auto (NASDAQ:LI) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The business had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.45 billion. Li Auto had a net margin of 5.60% and a return on equity of 11.83%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.21 earnings per share. On average, sell-side analysts predict that Li Auto will post 0.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Li Auto

Institutional investors have recently made changes to their positions in the stock. Elevation Point Wealth Partners LLC acquired a new position in shares of Li Auto in the second quarter worth $27,000. MAI Capital Management raised its holdings in shares of Li Auto by 2,236.0% in the second quarter. MAI Capital Management now owns 1,168 shares of the company’s stock worth $32,000 after acquiring an additional 1,118 shares during the last quarter. SVB Wealth LLC acquired a new position in shares of Li Auto in the first quarter worth $33,000. Summit Securities Group LLC acquired a new position in shares of Li Auto in the first quarter worth $50,000. Finally, CX Institutional acquired a new position in shares of Li Auto in the first quarter worth $72,000. 9.88% of the stock is owned by institutional investors and hedge funds.

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.