Li Auto (NASDAQ:LI) Shares Up 3.4% - Time to Buy?

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

Analysts Set New Price Targets

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

Li Auto Trading Up 2.0 %

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 50 day moving average price of $25.50 and a 200 day moving average price of $24.62. The stock has a market capitalization of $26.22 billion, a PE ratio of 18.55, a P/E/G ratio of 3.27 and a beta of 0.94.

Institutional Trading of Li Auto

Several institutional investors and hedge funds have recently made changes to their positions in LI. Barclays PLC boosted its position in Li Auto by 41.8% in the third quarter. Barclays PLC now owns 602,028 shares of the company's stock worth $15,442,000 after purchasing an additional 177,414 shares during the last quarter. Ballentine Partners LLC purchased a new position in Li Auto in the fourth quarter valued at approximately $223,000. Atomi Financial Group Inc. bought a new position in Li Auto during the fourth quarter valued at $271,000. SG Americas Securities LLC increased its position in Li Auto by 26.9% in the fourth quarter. SG Americas Securities LLC now owns 212,415 shares of the company's stock worth $5,096,000 after buying an additional 45,008 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Li Auto by 66.2% in the fourth quarter. Blue Trust Inc. now owns 5,058 shares of the company's stock valued at $130,000 after buying an additional 2,015 shares during the period. Hedge funds and other institutional investors 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.