Li Auto (NASDAQ:LI) Trading 9.8% Higher – Time to Buy?

Li Auto Inc. (NASDAQ:LI)’s stock price shot up 9.8% during mid-day trading on Wednesday . The stock traded as high as $32.66 and last traded at $32.75. 5,414,822 shares were traded during trading, an increase of 2% from the average session volume of 5,332,059 shares. The stock had previously closed at $29.84.

Analysts Set New Price Targets

LI has been the topic of a number of recent research reports. Macquarie upgraded Li Auto from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 6th. Barclays raised their price objective on shares of Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.77.

Li Auto Stock Up 10.0 %

The firm has a 50 day moving average of $24.24 and a 200-day moving average of $23.58. 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 stock has a market capitalization of $34.84 billion, a P/E ratio of 24.34, a price-to-earnings-growth ratio of 3.27 and a beta of 0.92.

Hedge Funds Weigh In On Li Auto

Several institutional investors have recently added to or reduced their stakes in the company. Aspex Management HK Ltd lifted its position 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 worth $273,017,000 after purchasing an additional 3,778,463 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Li Auto by 1.3% during the fourth 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 during the period. FMR LLC increased its position in Li Auto by 422.4% in the third quarter. FMR LLC now owns 4,252,398 shares of the company’s stock worth $109,074,000 after purchasing an additional 3,438,410 shares during the period. Brilliance Asset Management Ltd. lifted its position in Li Auto by 0.7% during the 4th quarter. Brilliance Asset Management Ltd. now owns 3,508,642 shares of the company’s stock valued at $84,172,000 after purchasing an additional 24,416 shares during the period. Finally, RWC Asset Advisors US LLC grew its position in shares of Li Auto by 20.0% during the 4th quarter. RWC Asset Advisors US LLC now owns 3,181,050 shares of the company’s stock worth $76,313,000 after buying an additional 530,390 shares during the period. 9.88% of the stock is owned by 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.