Li Auto (NASDAQ:LI) Sees Large Volume Increase - Time to Buy?

Key Points

• Li Auto experienced a significant trading volume spike with over 5.3 million shares changing hands, though this marks a 3% decline from the previous session.
• Analyst ratings for Li Auto are mixed, with reports indicating a shift from "strong sell" to "hold" ratings, and an average target price of $26.26.
• Institutional interest in Li Auto is increasing, with several hedge funds acquiring new positions, reflecting a growing confidence in the company's prospects within the electric vehicle market.

Li Auto Inc. Sponsored ADR (NASDAQ:LI - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 5,316,314 shares traded hands during trading, a decline of 3% from the previous session's volume of 5,462,341 shares.The stock last traded at $24.91 and had previously closed at $25.81.

Analyst Ratings Changes

A number of analysts recently issued reports on LI shares. BNP Paribas started coverage on shares of Li Auto in a report on Monday, August 18th. They set a "strong sell" rating on the stock. Cfra Research raised shares of Li Auto from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 10th. Sanford C. Bernstein decreased their price objective on shares of Li Auto from $26.00 to $25.00 and set a "market perform" rating on the stock in a report on Friday, August 29th. Bank of America downgraded shares of Li Auto from a "buy" rating to a "neutral" rating and set a $26.00 price objective on the stock. in a report on Thursday, August 28th. Finally, BNP Paribas Exane began coverage on shares of Li Auto in a report on Monday, August 18th. They set an "underperform" rating and a $18.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $26.26.

Li Auto Trading Down 5.5%

The company's 50 day moving average price is $25.45 and its 200 day moving average price is $26.17. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.73 and a quick ratio of 1.57. The firm has a market cap of $25.54 billion, a PE ratio of 23.28 and a beta of 0.97.

Hedge Funds Weigh In On Li Auto

A number of institutional investors have recently modified their holdings of LI. Elevation Point Wealth Partners LLC acquired a new position in Li Auto in the 2nd quarter valued at $27,000. MAI Capital Management grew its stake in shares of Li Auto by 2,236.0% during the 2nd quarter. MAI Capital Management now owns 1,168 shares of the company's stock worth $32,000 after purchasing an additional 1,118 shares during the period. SVB Wealth LLC acquired a new position in shares of Li Auto during the 1st quarter worth $33,000. Summit Securities Group LLC acquired a new position in shares of Li Auto during the 1st quarter worth $50,000. Finally, CX Institutional acquired a new position in shares of Li Auto during the 1st quarter worth $72,000. 9.88% of the stock is owned by institutional investors and hedge funds.

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.

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