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

Li Auto Inc. (NASDAQ:LI)’s stock price traded up 6.4% on Thursday . The company traded as high as $24.67 and last traded at $24.87. 1,862,020 shares changed hands during trading, a decline of 52% from the average session volume of 3,855,866 shares. The stock had previously closed at $23.37.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays upped 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. Macquarie upgraded shares of Li Auto from a “neutral” rating to an “outperform” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.94.

Li Auto Stock Up 6.8 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.64. The company’s 50-day simple moving average is $23.27 and its 200 day simple moving average is $22.88. The firm has a market cap of $26.48 billion, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 1.31 and a beta of 0.92.

Institutional Investors Weigh In On Li Auto

Several institutional investors have recently made changes to their positions in LI. Allspring Global Investments Holdings LLC bought a new stake in shares of Li Auto in the 3rd quarter worth about $39,000. Venturi Wealth Management LLC purchased a new position in Li Auto in the 3rd quarter worth about $50,000. BNP Paribas increased its stake in Li Auto by 300.0% in the 3rd quarter. BNP Paribas now owns 2,000 shares of the company’s stock worth $51,000 after buying an additional 1,500 shares during the period. Avior Wealth Management LLC increased its stake in Li Auto by 708.5% in the 3rd quarter. Avior Wealth Management LLC now owns 2,385 shares of the company’s stock worth $61,000 after buying an additional 2,090 shares during the period. Finally, Blue Trust Inc. increased its stake in Li Auto by 55.9% in the 3rd quarter. Blue Trust Inc. now owns 3,043 shares of the company’s stock worth $78,000 after buying an additional 1,091 shares during the period. Institutional investors own 9.88% of the company’s stock.

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.