Li Auto (NASDAQ:LI) Trading Up 5.9% - What's Next?

Li Auto Inc. (NASDAQ:LI - Get Free Report) rose 5.9% during mid-day trading on Tuesday . The company traded as high as $29.79 and last traded at $29.18. Approximately 1,732,043 shares were traded during trading, a decline of 76% from the average daily volume of 7,190,319 shares. The stock had previously closed at $27.56.

Wall Street Analysts Forecast Growth

LI has been the subject of a number of research reports. JPMorgan Chase & Co. raised Li Auto from a "neutral" rating to an "overweight" rating and increased their price target for the company from $22.00 to $40.00 in a research note on Friday, February 28th. HSBC set a $38.50 price target on Li Auto and gave the company a "buy" rating in a research note on Thursday, March 6th. Finally, Macquarie raised Li Auto from a "neutral" rating to an "outperform" rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $36.59.

Li Auto Price Performance

The business has a 50-day moving average price of $25.53 and a 200 day moving average price of $24.33. The company has a market cap of $29.14 billion, a price-to-earnings ratio of 20.34, a P/E/G ratio of 3.27 and a beta of 0.86. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13.

Institutional Trading of Li Auto

A number of hedge funds have recently modified their holdings of LI. Venturi Wealth Management LLC purchased a new stake in shares of Li Auto during the third quarter worth $50,000. BNP Paribas raised its holdings in shares of Li Auto by 300.0% during the third quarter. BNP Paribas now owns 2,000 shares of the company's stock worth $51,000 after acquiring an additional 1,500 shares in the last quarter. Avior Wealth Management LLC raised its holdings in shares of Li Auto by 708.5% during the third quarter. Avior Wealth Management LLC now owns 2,385 shares of the company's stock worth $61,000 after acquiring an additional 2,090 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Li Auto by 16.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the company's stock worth $84,000 after acquiring an additional 500 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Li Auto during the fourth quarter worth $129,000. Hedge funds and other institutional investors own 9.88% of the company's stock.

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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.