Li Auto (NASDAQ:LI) Stock Price Up 6% - Should You Buy?

Key Points

• Li Auto's stock price rose by 6%, closing at $25.95 after trading as high as $25.90, despite a significant decline in trading volume.
• Recent analyst ratings for Li Auto have been mixed, with recommendations ranging from "strong sell" to "strong-buy," leading to a consensus rating of "Reduce" and an average price target of $26.26.
• Institutional investors have shown significant interest, with Mirae Asset Global Investments increasing its stake by 459.3% in the first quarter, indicating growing institutional confidence in the company.

Li Auto Inc. Sponsored ADR (NASDAQ:LI - Get Free Report)'s stock price traded up 6% on Monday . The company traded as high as $25.90 and last traded at $25.95. 2,490,631 shares were traded during trading, a decline of 54% from the average session volume of 5,471,084 shares. The stock had previously closed at $24.48.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Li Auto from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. Bank of America lowered shares of Li Auto from a "buy" rating to a "neutral" rating and set a $26.00 target price for the company. in a research report on Thursday, August 28th. BNP Paribas assumed coverage on shares of Li Auto in a research report on Monday, August 18th. They set a "strong sell" rating for the company. BNP Paribas Exane assumed coverage on shares of Li Auto in a research report on Monday, August 18th. They set an "underperform" rating and a $18.00 target price for the company. Finally, Daiwa America upgraded shares of Li Auto to a "strong-buy" rating in a research report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average price target of $26.26.

Li Auto Stock Up 6.9%

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 company's 50-day simple moving average is $25.88 and its 200 day simple moving average is $26.30. The firm has a market cap of $27.40 billion, a P/E ratio of 24.92 and a beta of 0.97.

Institutional Investors Weigh In On Li Auto

Several hedge funds and other institutional investors have recently made changes to their positions in LI. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Li Auto by 459.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,923,620 shares of the company's stock valued at $426,475,000 after acquiring an additional 13,897,555 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Li Auto in the first quarter valued at $41,076,000. Goldman Sachs Group Inc. raised its stake in shares of Li Auto by 133.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,636,156 shares of the company's stock valued at $66,431,000 after acquiring an additional 1,505,991 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Li Auto in the second quarter valued at $30,055,000. Finally, Electron Capital Partners LLC purchased a new stake in shares of Li Auto in the first quarter valued at $24,658,000. 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.

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