Li Auto (NASDAQ:LI) Shares Up 5.9% – Time to Buy?

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

Analyst Ratings Changes

Several analysts have commented on LI shares. JPMorgan Chase & Co. upgraded shares of Li Auto from a “neutral” rating to an “overweight” rating and lifted their price objective 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 shares of Li Auto and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, Macquarie upgraded shares of Li Auto from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.59.

Li Auto Stock Performance

The firm has a market cap of $30.94 billion, a PE ratio of 21.60, a PEG ratio of 3.27 and a beta of 0.86. 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 firm’s 50 day moving average price is $25.38 and its two-hundred day moving average price is $24.25.

Institutional Inflows and Outflows

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

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.