Raymond James Financial Inc. Purchases New Position in Li Auto Inc. (NASDAQ:LI)

Raymond James Financial Inc. purchased a new position in Li Auto Inc. (NASDAQ:LI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 22,693 shares of the company's stock, valued at approximately $544,000.

Several other institutional investors and hedge funds have also bought and sold shares of LI. Daiwa Securities Group Inc. raised its holdings in Li Auto by 16.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the company's stock valued at $84,000 after acquiring an additional 500 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Li Auto during the 4th quarter worth about $129,000. Blue Trust Inc. lifted its holdings in Li Auto by 66.2% during the 4th quarter. Blue Trust Inc. now owns 5,058 shares of the company's stock worth $130,000 after purchasing an additional 2,015 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Li Auto in the 4th quarter worth about $191,000. Finally, Ballentine Partners LLC purchased a new position in Li Auto during the 4th quarter valued at about $223,000. 9.88% of the stock is owned by institutional investors.

Li Auto Trading Up 2.3%

Shares of Li Auto stock traded up $0.63 during trading on Wednesday, reaching $28.59. 2,138,805 shares of the stock were exchanged, compared to its average volume of 6,800,223. 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 $29.94 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 3.27 and a beta of 0.95. Li Auto Inc. has a 1 year low of $17.44 and a 1 year high of $33.12. The stock's fifty day moving average is $25.11 and its 200 day moving average is $24.65.

Wall Street Analysts Forecast Growth

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

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.