Li Auto (NASDAQ:LI) Sees Unusually-High Trading Volume

Li Auto Inc. (NASDAQ:LI - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 6,247,668 shares changed hands during mid-day trading, a decline of 21% from the previous session's volume of 7,938,516 shares.The stock last traded at $29.00 and had previously closed at $28.60.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LI shares. Bank of America increased their price target on shares of Li Auto from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. Citigroup increased their price objective on shares of Li Auto from $25.50 to $29.60 and gave the stock a "neutral" rating in a research note on Monday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Li Auto from $21.00 to $19.00 and set a "neutral" rating for the company in a research report on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $33.66.

Li Auto Stock Performance

The company has a current ratio of 1.76, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14. The stock's fifty day simple moving average is $20.67 and its 200 day simple moving average is $22.88. The company has a market cap of $31.72 billion, a price-to-earnings ratio of 19.93 and a beta of 0.98.

Li Auto (NASDAQ:LI - Get Free Report) last issued its earnings results on Wednesday, August 28th. The company reported $0.14 earnings per share (EPS) for the quarter. Li Auto had a return on equity of 13.70% and a net margin of 7.65%. The company had revenue of $4.36 billion during the quarter.

Hedge Funds Weigh In On Li Auto

A number of hedge funds have recently modified their holdings of LI. Corient Private Wealth LLC lifted its holdings in shares of Li Auto by 5.3% in the 4th quarter. Corient Private Wealth LLC now owns 12,664 shares of the company's stock worth $474,000 after acquiring an additional 641 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its stake in Li Auto by 204.3% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 18,386 shares of the company's stock worth $688,000 after acquiring an additional 12,343 shares in the last quarter. Capital International Investors boosted its holdings in Li Auto by 63.2% during the 4th quarter. Capital International Investors now owns 384,978 shares of the company's stock valued at $14,410,000 after acquiring an additional 149,099 shares during the period. Crossmark Global Holdings Inc. grew its position in Li Auto by 4.7% in the 4th quarter. Crossmark Global Holdings Inc. now owns 37,479 shares of the company's stock valued at $1,403,000 after acquiring an additional 1,679 shares in the last quarter. Finally, Brilliance Asset Management Ltd. grew its position in Li Auto by 6.9% in the 4th quarter. Brilliance Asset Management Ltd. now owns 4,639,798 shares of the company's stock valued at $173,668,000 after acquiring an additional 299,531 shares in the last quarter. 9.88% of the stock is currently owned by hedge funds and other 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.