Li Auto (NASDAQ:LI) Stock Price Up 3.2% – Here’s What Happened

Li Auto Inc. (NASDAQ:LI)’s stock price shot up 3.2% on Wednesday . The stock traded as high as $27.01 and last traded at $26.86. 1,772,438 shares traded hands during trading, a decline of 75% from the average session volume of 7,130,376 shares. The stock had previously closed at $26.04.

Analyst Ratings Changes

Several research firms have commented on LI. JPMorgan Chase & Co. raised shares of Li Auto from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $22.00 to $40.00 in a research note on Friday, February 28th. Cfra Research raised shares of Li Auto to a “strong sell” rating in a research note on Friday, March 21st. Macquarie downgraded shares of Li Auto from an “outperform” rating to a “neutral” rating and set a $27.00 price target on the stock. in a report on Monday, March 17th. HSBC set a $38.50 price objective on shares of Li Auto and gave the stock a “buy” rating in a research note on Thursday, March 6th. Finally, Nomura Securities raised Li Auto to a “hold” rating in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $35.73.

Li Auto Trading Up 2.3 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.64. The firm has a market capitalization of $28.26 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 3.27 and a beta of 0.86. The stock’s 50-day moving average price is $26.08 and its 200 day moving average price is $24.78.

Hedge Funds Weigh In On Li Auto

Institutional investors have recently made changes to their positions in the company. BNP Paribas lifted its stake in Li Auto by 300.0% in 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 during the period. Daiwa Securities Group Inc. raised its holdings in shares of Li Auto by 16.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the company’s stock valued at $84,000 after purchasing an additional 500 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Li Auto in the 4th quarter worth approximately $129,000. Blue Trust Inc. boosted its stake in shares of Li Auto by 66.2% during the fourth quarter. Blue Trust Inc. now owns 5,058 shares of the company’s stock valued at $130,000 after purchasing an additional 2,015 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in Li Auto during the fourth quarter valued at approximately $191,000. Hedge funds and other institutional investors 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.