Li Auto (NASDAQ:LI) Stock Price Up 3.4% - Still a Buy?

Li Auto Inc. (NASDAQ:LI - Get Free Report)'s share price shot up 3.4% during mid-day trading on Monday . The stock traded as high as $24.46 and last traded at $24.28. 1,895,587 shares were traded during trading, a decline of 73% from the average session volume of 7,061,639 shares. The stock had previously closed at $23.48.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LI shares. Nomura Securities upgraded shares of Li Auto to a "hold" rating in a research note 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. Cfra Research upgraded shares of Li Auto to a "strong sell" rating in a research note on Friday, March 21st. Macquarie cut Li Auto from an "outperform" rating to a "neutral" rating and set a $27.00 price target for the company. in a report on Monday, March 17th. Finally, JPMorgan Chase & Co. raised Li Auto from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $22.00 to $40.00 in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the 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 Stock Up 3.5 %

The business has a fifty day moving average of $25.78 and a 200 day moving average of $24.67. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.13. The firm has a market cap of $25.44 billion, a P/E ratio of 18.00, a P/E/G ratio of 3.27 and a beta of 0.94.

Institutional Trading of Li Auto

Hedge funds have recently added to or reduced their stakes in the business. RWC Asset Advisors US LLC lifted its holdings in shares of Li Auto by 20.0% during the 4th quarter. RWC Asset Advisors US LLC now owns 3,181,050 shares of the company's stock valued at $76,313,000 after purchasing an additional 530,390 shares in the last quarter. Barclays PLC boosted its holdings in shares of Li Auto by 41.8% in the third quarter. Barclays PLC now owns 602,028 shares of the company's stock valued at $15,442,000 after buying an additional 177,414 shares during the period. Atomi Financial Group Inc. acquired a new stake in shares of Li Auto during the fourth quarter worth $271,000. Raymond James Financial Inc. acquired a new stake in shares of Li Auto during the fourth quarter worth $544,000. Finally, Pinpoint Asset Management Ltd lifted its position in Li Auto by 594.4% in the 4th quarter. Pinpoint Asset Management Ltd now owns 131,592 shares of the company's stock valued at $3,357,000 after acquiring an additional 112,642 shares in the last quarter. Institutional investors and hedge funds own 9.88% of the company's stock.

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.

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