Li Auto (NASDAQ:LI) Stock Price Up 6% - Here's What Happened

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.

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

Analysts Set New Price Targets

Several research analysts recently commented on LI shares. Wall Street Zen cut Li Auto from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. Macquarie lowered Li Auto from a "neutral" rating to an "underperform" rating and lowered their target price for the stock from $28.00 to $21.00 in a research note on Friday, August 22nd. JPMorgan Chase & Co. reissued a "neutral" rating and set a $28.00 price target (down previously from $33.00) on shares of Li Auto in a research report on Thursday, August 14th. BNP Paribas Exane assumed coverage on Li Auto in a report on Monday, August 18th. They issued an "underperform" rating and a $18.00 target price on the stock. Finally, Cfra Research raised Li Auto from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $26.26.

Li Auto Trading Down 1.2%

The company has a market cap of $26.96 billion, a PE ratio of 24.52 and a beta of 0.97. The firm's 50 day moving average is $25.78 and its 200 day moving average is $26.24. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.73 and a quick ratio of 1.57.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Quantinno Capital Management LP grew its position in Li Auto by 17.6% in the fourth quarter. Quantinno Capital Management LP now owns 15,727 shares of the company's stock worth $377,000 after acquiring an additional 2,356 shares in the last quarter. Vident Advisory LLC grew its position in Li Auto by 11.2% in the fourth quarter. Vident Advisory LLC now owns 19,914 shares of the company's stock worth $478,000 after acquiring an additional 1,998 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Li Auto by 66.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 58,525 shares of the company's stock worth $1,404,000 after acquiring an additional 23,339 shares in the last quarter. Myriad Asset Management US LP purchased a new position in Li Auto in the first quarter worth $9,913,000. Finally, CX Institutional purchased a new position in Li Auto in the first quarter worth $72,000. 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.