Li Auto (NASDAQ:LI) Trading Up 3.2% – Here’s What Happened

Li Auto Inc. (NASDAQ:LI) shot up 3.2% on Wednesday . The stock traded as high as $27.01 and last traded at $26.86. 1,772,438 shares traded hands during trading, a decline of 75% from the average session volume of 7,130,376 shares. The stock had previously closed at $26.04.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on LI shares. HSBC set a $38.50 target price on Li Auto and gave the stock a “buy” rating in a research report on Thursday, March 6th. Cfra Research raised Li Auto to a “strong sell” rating in a report on Friday, March 21st. JPMorgan Chase & Co. raised shares of Li Auto from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $22.00 to $40.00 in a report on Friday, February 28th. Macquarie downgraded shares of Li Auto from an “outperform” rating to a “neutral” rating and set a $27.00 target price for the company. in a research note on Monday, March 17th. Finally, Nomura Securities upgraded shares of Li Auto to a “hold” rating in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $35.73.

Li Auto Trading Down 2.4 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.64. The company has a market cap of $27.08 billion, a PE ratio of 18.90, a PEG ratio of 3.27 and a beta of 0.86. The firm’s 50 day moving average is $26.25 and its 200 day moving average is $24.80.

Hedge Funds Weigh In On Li Auto

A number of institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC grew its holdings in shares of Li Auto by 4.4% during the fourth quarter. Signaturefd LLC now owns 10,184 shares of the company’s stock worth $244,000 after purchasing an additional 428 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in Li Auto by 16.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the company’s stock valued at $84,000 after purchasing an additional 500 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC grew its stake in Li Auto by 2.2% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,174 shares of the company’s stock worth $604,000 after buying an additional 547 shares in the last quarter. Amundi increased its holdings in shares of Li Auto by 1.2% in the 4th quarter. Amundi now owns 78,098 shares of the company’s stock worth $1,811,000 after buying an additional 888 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Li Auto by 15.2% during the 4th quarter. First Trust Advisors LP now owns 10,014 shares of the company’s stock valued at $240,000 after buying an additional 1,324 shares in the last quarter. 9.88% of the stock is currently owned by institutional investors.

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.