Li Auto (NASDAQ:LI) Trading Up 6.4% – Time to Buy?

Shares of Li Auto Inc. (NASDAQ:LI) were up 6.4% during mid-day trading on Thursday . The company traded as high as $24.67 and last traded at $24.87. Approximately 1,862,020 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 3,855,866 shares. The stock had previously closed at $23.37.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Macquarie raised shares of Li Auto from a “neutral” rating to an “outperform” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Li Auto presently has an average rating of “Moderate Buy” and an average target price of $33.94.

Li Auto Price Performance

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’s fifty day moving average price is $23.27 and its two-hundred day moving average price is $22.88. The stock has a market capitalization of $26.48 billion, a PE ratio of 18.49, a PEG ratio of 1.31 and a beta of 0.92.

Institutional Trading of Li Auto

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NINE MASTS CAPITAL Ltd purchased a new stake in shares of Li Auto in the fourth quarter worth $6,637,000. SBI Securities Co. Ltd. purchased a new stake in shares of Li Auto in the fourth quarter worth $191,000. RWC Asset Advisors US LLC increased its stake in shares of Li Auto by 20.0% in the fourth quarter. RWC Asset Advisors US LLC now owns 3,181,050 shares of the company’s stock worth $76,313,000 after purchasing an additional 530,390 shares in the last quarter. ABC Arbitrage SA purchased a new stake in shares of Li Auto in the fourth quarter worth $331,000. Finally, Ping Capital Management Inc. increased its stake in shares of Li Auto by 161.9% in the fourth quarter. Ping Capital Management Inc. now owns 27,500 shares of the company’s stock worth $660,000 after purchasing an additional 17,000 shares in the last quarter. 9.88% of the stock is owned by hedge funds and other institutional investors.

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.