Li Auto (NASDAQ:LI) Raised to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Li Auto (NASDAQ:LI - Free Report) from a neutral rating to an overweight rating in a report released on Friday, MarketBeat.com reports. The brokerage currently has $40.00 target price on the stock, up from their prior target price of $22.00.

A number of other research analysts have also weighed in on LI. Barclays raised their target price 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. Macquarie raised Li Auto from a "neutral" rating to an "outperform" rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Li Auto presently has an average rating of "Moderate Buy" and an average price target of $36.27.

Li Auto Price Performance

Shares of Li Auto stock traded up $0.30 during trading hours on Friday, reaching $27.67. 6,661,483 shares of the company's stock were exchanged, compared to its average volume of 7,257,604. The business has a fifty day moving average of $24.83 and a two-hundred day moving average of $23.90. The company has a market capitalization of $29.36 billion, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 3.27 and a beta of 0.92. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.13. Li Auto has a 1 year low of $17.44 and a 1 year high of $40.70.

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Institutional Trading of Li Auto

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its position in shares of Li Auto by 66.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 58,525 shares of the company's stock worth $1,404,000 after buying an additional 23,339 shares in the last quarter. Vident Advisory LLC lifted its stake in Li Auto by 11.2% in the fourth quarter. Vident Advisory LLC now owns 19,914 shares of the company's stock worth $478,000 after acquiring an additional 1,998 shares during the last quarter. Tairen Capital Ltd purchased a new position in Li Auto in the fourth quarter worth approximately $8,435,000. Point72 Hong Kong Ltd grew its holdings in Li Auto by 1,976.3% during the 4th quarter. Point72 Hong Kong Ltd now owns 212,673 shares of the company's stock worth $5,102,000 after acquiring an additional 202,430 shares in the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of Li Auto by 17.6% in the 4th quarter. Quantinno Capital Management LP now owns 15,727 shares of the company's stock valued at $377,000 after purchasing an additional 2,356 shares during the last quarter. Hedge funds and other institutional investors own 9.88% of the company's stock.

About Li Auto

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.