Li Auto (NASDAQ:LI) Stock Price Up 5.9% – Time to Buy?

Shares of Li Auto Inc. (NASDAQ:LI) traded up 5.9% during mid-day trading on Tuesday . The stock traded as high as $29.79 and last traded at $29.18. 1,732,043 shares were traded during mid-day trading, a decline of 76% from the average session volume of 7,190,319 shares. The stock had previously closed at $27.56.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. upgraded Li Auto from a “neutral” rating to an “overweight” rating and raised their price target for the company from $22.00 to $40.00 in a report on Friday, February 28th. Macquarie upgraded shares of Li Auto from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 6th. Finally, HSBC set a $38.50 price target on Li Auto and gave the stock a “buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Li Auto currently has an average rating of “Moderate Buy” and an average price target of $36.59.

Li Auto Stock Up 6.4 %

The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13. The company has a 50-day simple moving average of $25.16 and a 200 day simple moving average of $24.16. The company has a market cap of $31.10 billion, a P/E ratio of 21.72, a P/E/G ratio of 3.27 and a beta of 0.86.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Aspex Management HK Ltd boosted its stake in shares of Li Auto by 55.0% during the third quarter. Aspex Management HK Ltd now owns 10,643,926 shares of the company’s stock valued at $273,017,000 after purchasing an additional 3,778,463 shares in the last quarter. Renaissance Technologies LLC boosted its position in Li Auto by 1.3% during the 4th quarter. Renaissance Technologies LLC now owns 7,800,639 shares of the company’s stock valued at $187,137,000 after acquiring an additional 99,539 shares in the last quarter. FMR LLC increased its holdings in shares of Li Auto by 422.4% in the 3rd quarter. FMR LLC now owns 4,252,398 shares of the company’s stock valued at $109,074,000 after acquiring an additional 3,438,410 shares during the period. Brilliance Asset Management Ltd. raised its position in shares of Li Auto by 0.7% in the 4th quarter. Brilliance Asset Management Ltd. now owns 3,508,642 shares of the company’s stock worth $84,172,000 after acquiring an additional 24,416 shares in the last quarter. Finally, RWC Asset Advisors US LLC boosted its position in Li Auto by 20.0% during the fourth quarter. RWC Asset Advisors US LLC now owns 3,181,050 shares of the company’s stock valued at $76,313,000 after purchasing an additional 530,390 shares in the last quarter. 9.88% of the stock is currently 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.