Li Auto (NASDAQ:LI) Stock Price Up 3.7% – Here’s What Happened

by · The Cerbat Gem

Li Auto Inc. (NASDAQ:LI – Get Free Report) was up 3.7% during mid-day trading on Wednesday . The company traded as high as $23.41 and last traded at $23.23. Approximately 3,909,193 shares changed hands during trading, a decline of 50% from the average daily volume of 7,769,406 shares. The stock had previously closed at $22.40.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on LI shares. Citigroup lifted their price target on shares of Li Auto from $25.50 to $29.60 and gave the company a “neutral” rating in a research report on Monday, September 30th. Bank of America upped their price target on Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. cut their price objective on Li Auto from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Macquarie reaffirmed 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. Finally, Barclays lifted their price target on shares of Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.94.

Check Out Our Latest Stock Report on Li Auto

Li Auto Stock Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.64 and a current ratio of 1.76. The company has a market capitalization of $25.00 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 2.18 and a beta of 0.94. The firm has a 50-day simple moving average of $24.17 and a two-hundred day simple moving average of $21.93.

Hedge Funds Weigh In On Li Auto

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its holdings in Li Auto by 77.1% during the 2nd quarter. SG Americas Securities LLC now owns 18,470 shares of the company’s stock worth $330,000 after purchasing an additional 8,043 shares during the period. Assenagon Asset Management S.A. raised its holdings in Li Auto by 969.4% in the second quarter. Assenagon Asset Management S.A. now owns 94,977 shares of the company’s stock valued at $1,698,000 after acquiring an additional 86,096 shares in the last quarter. Blue Trust Inc. raised its holdings in Li Auto by 1,707.4% in the second quarter. Blue Trust Inc. now owns 1,952 shares of the company’s stock valued at $35,000 after acquiring an additional 1,844 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Li Auto during the 2nd quarter worth approximately $21,626,000. Finally, Van ECK Associates Corp increased its position in shares of Li Auto by 4.1% in the 2nd quarter. Van ECK Associates Corp now owns 210,987 shares of the company’s stock valued at $3,772,000 after purchasing an additional 8,402 shares during the last quarter. Hedge funds and other institutional investors own 9.88% of the company’s stock.

About Li Auto

(Get Free Report)

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.

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