Li Auto (NASDAQ:LI) Now Covered by Nomura

Stock analysts at Nomura assumed coverage on shares of Li Auto (NASDAQ:LI) in a research note issued to investors on Thursday, The Fly reports. The firm set a “buy” rating on the stock.

A number of other brokerages have also recently commented on LI. Bank of America increased their price objective on shares of Li Auto from $39.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, August 31st. The Goldman Sachs Group started coverage on shares of Li Auto in a research note on Thursday, August 12th. They issued a “conviction-buy” rating on the stock. Citigroup lowered their price objective on shares of Li Auto from $48.10 to $42.50 and set a “buy” rating on the stock in a research note on Tuesday, August 17th. Zacks Investment Research cut shares of Li Auto from a “hold” rating to a “sell” rating in a research note on Wednesday, August 11th. Finally, Needham & Company LLC started coverage on shares of Li Auto in a research note on Tuesday, August 31st. They issued a “buy” rating and a $37.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Li Auto currently has an average rating of “Buy” and an average target price of $41.65.

NASDAQ:LI opened at $28.69 on Thursday. The company has a quick ratio of 5.02, a current ratio of 5.17 and a debt-to-equity ratio of 0.24. Li Auto has a fifty-two week low of $15.98 and a fifty-two week high of $47.70. The stock has a market cap of $29.43 billion, a PE ratio of -179.31 and a beta of 2.09. The firm’s fifty day simple moving average is $28.82 and its 200-day simple moving average is $26.79.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in Li Auto by 131.7% in the second quarter. BlackRock Inc. now owns 23,853,665 shares of the company’s stock valued at $833,448,000 after buying an additional 13,560,227 shares during the period. Coatue Management LLC raised its holdings in Li Auto by 766.9% in the first quarter. Coatue Management LLC now owns 12,787,010 shares of the company’s stock valued at $319,675,000 after buying an additional 11,311,998 shares during the period. Baillie Gifford & Co. raised its holdings in Li Auto by 61.6% in the second quarter. Baillie Gifford & Co. now owns 14,829,340 shares of the company’s stock valued at $518,138,000 after buying an additional 5,653,172 shares during the period. State Street Corp raised its holdings in Li Auto by 141.7% in the second quarter. State Street Corp now owns 8,368,546 shares of the company’s stock valued at $292,397,000 after buying an additional 4,906,325 shares during the period. Finally, FMR LLC raised its holdings in Li Auto by 72.7% in the second quarter. FMR LLC now owns 10,562,859 shares of the company’s stock valued at $369,065,000 after buying an additional 4,447,381 shares during the period. Institutional investors and hedge funds own 16.41% of the company’s stock.

About Li Auto

Li Auto Inc, through its subsidiaries, designs, develops, manufactures, and sells smart electric sport utility vehicles (SUVs) in China. It offers Li ONE, a six-seat electric SUV that equipped with a range of extension system and smart vehicle solutions. The company was formerly known as Leading Ideal Inc and changed its name to Li Auto Inc in July 2020.

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