Li Auto (NASDAQ:LI) Sees Unusually-High Trading Volume

Shares of Li Auto Inc. (NASDAQ:LI - Get Free Report) saw unusually-high trading volume on Monday . Approximately 6,990,692 shares were traded during mid-day trading, a decline of 13% from the previous session's volume of 8,017,092 shares.The stock last traded at $24.90 and had previously closed at $26.38.

Wall Street Analyst Weigh In

LI has been the subject of a number of recent research reports. Citigroup decreased their price target on shares of Li Auto from $57.30 to $48.50 and set a "buy" rating for the company in a research note on Friday, March 22nd. The Goldman Sachs Group initiated coverage on shares of Li Auto in a research note on Wednesday, January 3rd. They set a "buy" rating for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Li Auto from a "hold" rating to a "buy" rating and decreased their price target for the company from $45.00 to $41.00 in a research note on Tuesday, February 6th. Barclays decreased their price target on shares of Li Auto from $56.00 to $39.00 and set an "overweight" rating for the company in a research note on Friday, March 22nd. Finally, Bank of America decreased their price target on shares of Li Auto from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, March 18th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Li Auto currently has an average rating of "Buy" and an average price target of $47.36.

Li Auto Stock Down 5.6 %

The company has a current ratio of 1.57, a quick ratio of 1.48 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $26.43 billion, a PE ratio of 16.07 and a beta of 1.05. The stock's fifty day simple moving average is $33.45 and its 200-day simple moving average is $34.01.

Li Auto (NASDAQ:LI - Get Free Report) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.49 earnings per share for the quarter. The company had revenue of $5.88 billion for the quarter. Li Auto had a net margin of 9.44% and a return on equity of 18.37%. As a group, sell-side analysts forecast that Li Auto Inc. will post 1.97 EPS for the current fiscal year.

Hedge Funds Weigh In On Li Auto

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Scarborough Advisors LLC purchased a new stake in Li Auto during the fourth quarter valued at about $41,000. Concourse Financial Group Securities Inc. lifted its holdings in Li Auto by 186.0% during the third quarter. Concourse Financial Group Securities Inc. now owns 1,430 shares of the company's stock valued at $51,000 after purchasing an additional 930 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in Li Auto during the fourth quarter valued at about $57,000. CWM LLC lifted its holdings in Li Auto by 59.5% during the third quarter. CWM LLC now owns 1,812 shares of the company's stock valued at $65,000 after purchasing an additional 676 shares during the last quarter. Finally, Ronald Blue Trust Inc. lifted its holdings in Li Auto by 40.9% during the third quarter. Ronald Blue Trust Inc. now owns 2,046 shares of the company's stock valued at $72,000 after purchasing an additional 594 shares during the last quarter. 9.88% of the stock is owned by hedge funds and other institutional investors.

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.