Li Auto (NASDAQ:LI) Stock Price Up 3.7% – Should You Buy?

Li Auto Inc. (NASDAQ:LI)’s share price traded up 3.7% on Wednesday . The company traded as high as $23.41 and last traded at $23.23. 3,909,193 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 7,769,406 shares. The stock had previously closed at $22.40.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Barclays boosted their target price on shares of Li Auto from $22.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Citigroup raised their target price on Li Auto from $25.50 to $29.60 and gave the stock a “neutral” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. dropped their price target on Li Auto from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Bank of America increased their price objective on Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Macquarie reaffirmed a “neutral” rating and set a $33.00 target price (up previously from $25.00) on shares of Li Auto in a report on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Li Auto has an average rating of “Moderate Buy” and a consensus price target of $33.94.

Li Auto Trading Up 0.9 %

The company’s fifty day simple moving average is $24.17 and its 200-day simple moving average is $21.93. The firm has a market capitalization of $25.00 billion, a PE ratio of 17.45, a P/E/G ratio of 2.18 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.64.

Institutional Investors Weigh In On Li Auto

Hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Li Auto in the third quarter valued at approximately $39,000. Venturi Wealth Management LLC purchased a new stake in Li Auto in the 3rd quarter valued at $50,000. Blue Trust Inc. increased its stake in shares of Li Auto by 1,707.4% in the 2nd quarter. Blue Trust Inc. now owns 1,952 shares of the company’s stock worth $35,000 after acquiring an additional 1,844 shares during the last quarter. BNP Paribas raised its holdings in shares of Li Auto by 300.0% during the 3rd quarter. BNP Paribas now owns 2,000 shares of the company’s stock worth $51,000 after acquiring an additional 1,500 shares during the period. Finally, Avior Wealth Management LLC boosted its position in shares of Li Auto by 708.5% during the 3rd quarter. Avior Wealth Management LLC now owns 2,385 shares of the company’s stock valued at $61,000 after acquiring an additional 2,090 shares during the last quarter. 9.88% of the stock is currently owned by institutional investors and hedge funds.

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.