The stock of Li Auto Inc (NASDAQ:LI) is now priced at $16.42 and the shares are -0.47 points down or -2.78% lower compared to its previous closing price of $16.89. The stock had 7.882 million contracts set over the past session. LI shares’ daily volume is compared to its average trading volume at 2.112 million shares. However, it has a float of 0 and although its performance was 0.37% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the LI share price recently placing at $16.12 to $17.76. However, some brokerage firms have priced the stock below the average, including one that has called $10.
The shorts are running away from the Li Auto Inc stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the LI shares have declined. Short interest in the stock represents just 0% of its float, but the volume has dropped by 0.
The technical chart shows that the LI stock will likely settle at between $17.41 and $18.41 per share. However, if the stock dips below $15.77, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $15.13.
The average rating for the LI equity is — and is currently gathering a bearish momentum. Of 1 analysts tracking Li Auto Inc polled by Reuters, 0 rated LI as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
The stocks P/S ratio currently stands below the group’s average of 48.6. Li Auto Inc has its P/E ratio at 16, which means that the stock is currently trading at a premium relative to the 1.8 industry average.