Li Auto (NASDAQ:LI) Stock Price Up 6.1% – Here’s What Happened

Li Auto Inc. (NASDAQ:LI) was up 6.1% during mid-day trading on Tuesday . The stock traded as high as $26.80 and last traded at $26.79. Approximately 1,750,488 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 8,029,774 shares. The stock had previously closed at $25.26.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Macquarie reiterated a “neutral” rating and set a $33.00 price objective (up previously from $25.00) on shares of Li Auto in a report on Friday, October 4th. Citigroup upped their price target on shares of Li Auto from $25.50 to $29.60 and gave the company a “neutral” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. lowered their price objective on shares of Li Auto from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Finally, Bank of America boosted their price objective on shares of Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.66.

Li Auto Price Performance

The firm has a market capitalization of $27.86 billion, a PE ratio of 17.86, a P/E/G ratio of 2.54 and a beta of 0.98. The firm’s fifty day moving average price is $22.65 and its 200 day moving average price is $22.43. The company has a current ratio of 1.76, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14.

Li Auto (NASDAQ:LI) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.14 EPS for the quarter. The company had revenue of $4.36 billion for the quarter. Li Auto had a net margin of 7.65% and a return on equity of 13.70%. As a group, equities analysts forecast that Li Auto Inc. will post 1.04 earnings per share for the current year.

Hedge Funds Weigh In On Li Auto

Institutional investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Li Auto by 58.7% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company’s stock worth $28,000 after buying an additional 573 shares in the last quarter. Blue Trust Inc. raised its holdings in Li Auto by 1,707.4% in the 2nd quarter. Blue Trust Inc. now owns 1,952 shares of the company’s stock valued at $35,000 after acquiring an additional 1,844 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Li Auto during the 3rd quarter worth approximately $39,000. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of Li Auto in the third quarter valued at approximately $195,000. Finally, QRG Capital Management Inc. increased its holdings in shares of Li Auto by 58.5% in the second quarter. QRG Capital Management Inc. now owns 11,731 shares of the company’s stock valued at $210,000 after purchasing an additional 4,331 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.