Li Auto (NASDAQ:LI) Shares Up 3.7% – Here’s Why

Li Auto Inc. (NASDAQ:LI)’s stock price traded up 3.7% on Wednesday . The company traded as high as $23.41 and last traded at $23.23. 3,909,193 shares changed hands during trading, a decline of 50% from the average session volume of 7,769,406 shares. The stock had previously closed at $22.40.

Wall Street Analysts Forecast Growth

Several analysts have commented on LI shares. Bank of America increased their target price on Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Citigroup increased their price objective on Li Auto from $25.50 to $29.60 and gave the company a “neutral” rating in a research report on Monday, September 30th. Macquarie reissued a “neutral” rating and issued a $33.00 target price (up previously from $25.00) on shares of Li Auto in a research report on Friday, October 4th. JPMorgan Chase & Co. lowered their target price on shares of Li Auto from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Finally, Barclays lifted their price target on shares of Li Auto from $22.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $33.94.

Li Auto Trading Up 1.6 %

The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is $24.35 and its 200-day moving average price is $21.91. The stock has a market capitalization of $24.15 billion, a PE ratio of 16.86, a PEG ratio of 2.18 and a beta of 0.94.

Institutional Trading of Li Auto

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. increased its stake in Li Auto by 1,707.4% in the 2nd quarter. Blue Trust Inc. now owns 1,952 shares of the company’s stock worth $35,000 after acquiring an additional 1,844 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Li Auto in the third quarter worth $39,000. Venturi Wealth Management LLC bought a new stake in Li Auto in the third quarter worth $50,000. BNP Paribas raised its stake in Li Auto by 300.0% during the third quarter. BNP Paribas now owns 2,000 shares of the company’s stock valued at $51,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its position in Li Auto by 708.5% during the third quarter. Avior Wealth Management LLC now owns 2,385 shares of the company’s stock valued at $61,000 after purchasing an additional 2,090 shares during 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.