Li Auto (NASDAQ:LI) Stock Price Up 6.1% – What’s Next?

Li Auto Inc. (NASDAQ:LI) was up 6.1% on Tuesday . The stock traded as high as $26.80 and last traded at $26.79. Approximately 1,750,488 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 8,029,774 shares. The stock had previously closed at $25.26.

Analyst Ratings Changes

Several brokerages recently issued reports on LI. Citigroup boosted their price target on Li Auto from $25.50 to $29.60 and gave the company a “neutral” rating in a research note on Monday, September 30th. Macquarie restated a “neutral” rating and set a $33.00 price objective (up from $25.00) on shares of Li Auto in a research report on Friday, October 4th. JPMorgan Chase & Co. reduced their target price 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. Finally, Bank of America boosted their price target on shares of Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.66.

Li Auto Price Performance

The company’s 50 day moving average price is $22.78 and its 200 day moving average price is $22.40. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 1.76. The company has a market cap of $28.72 billion, a price-to-earnings ratio of 18.05, a P/E/G ratio of 2.54 and a beta of 0.98.

Li Auto (NASDAQ:LI) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.14 EPS for the quarter. The firm had revenue of $4.36 billion for the quarter. Li Auto had a net margin of 7.65% and a return on equity of 13.70%. On average, equities research analysts predict that Li Auto Inc. will post 1.04 earnings per share for the current fiscal year.

Institutional Trading of Li Auto

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ballentine Partners LLC boosted its position in Li Auto by 20.6% in the 1st quarter. Ballentine Partners LLC now owns 7,199 shares of the company’s stock valued at $218,000 after buying an additional 1,232 shares during the last quarter. Atlas Capital Advisors LLC lifted its position in Li Auto by 46.7% during the 1st quarter. Atlas Capital Advisors LLC now owns 10,592 shares of the company’s stock valued at $321,000 after purchasing an additional 3,372 shares during the period. Caprock Group LLC lifted its position in Li Auto by 30.0% during the 1st quarter. Caprock Group LLC now owns 11,458 shares of the company’s stock valued at $347,000 after purchasing an additional 2,644 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Li Auto by 6.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 166,845 shares of the company’s stock valued at $5,125,000 after purchasing an additional 10,824 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Li Auto during the 1st quarter worth approximately $642,000. 9.88% of the stock is currently owned by institutional investors and hedge funds.

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.