Li Auto (NASDAQ:LI) Shares Up 3.2% – Time to Buy?

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

Wall Street Analysts Forecast Growth

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

Li Auto Price Performance

The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $26.08 and a 200-day simple moving average of $24.78. The firm has a market cap of $28.26 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 3.27 and a beta of 0.86.

Institutional Investors Weigh In On Li Auto

Institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC grew its holdings in shares of Li Auto by 4.4% in the fourth quarter. Signaturefd LLC now owns 10,184 shares of the company’s stock valued at $244,000 after purchasing an additional 428 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Li Auto by 16.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the company’s stock worth $84,000 after buying an additional 500 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC increased its holdings in shares of 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 during the last quarter. Amundi lifted 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 valued at $1,811,000 after acquiring an additional 888 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Li Auto by 15.2% in the fourth quarter. First Trust Advisors LP now owns 10,014 shares of the company’s stock worth $240,000 after acquiring an additional 1,324 shares in the last quarter. Institutional investors own 9.88% of the company’s stock.

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.