Li Auto (NASDAQ:LI) Sees Unusually-High Trading Volume – Here’s What Happened

Li Auto Inc. (NASDAQ:LI) shares saw an uptick in trading volume on Friday . 5,628,766 shares traded hands during mid-day trading, a decline of 22% from the previous session’s volume of 7,212,491 shares.The stock last traded at $28.68 and had previously closed at $28.72.

Analyst Upgrades and Downgrades

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

Li Auto Stock Performance

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 $29.56 billion, a PE ratio of 20.63, a P/E/G ratio of 3.27 and a beta of 0.86. The stock has a 50 day moving average of $25.47 and a two-hundred day moving average of $24.28.

Hedge Funds Weigh In On Li Auto

Hedge funds and other institutional investors have recently bought and sold shares of the company. Aspex Management HK Ltd raised its holdings in shares of Li Auto by 55.0% in the third quarter. Aspex Management HK Ltd now owns 10,643,926 shares of the company’s stock worth $273,017,000 after acquiring an additional 3,778,463 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Li Auto by 1.3% in the fourth quarter. Renaissance Technologies LLC now owns 7,800,639 shares of the company’s stock worth $187,137,000 after buying an additional 99,539 shares during the period. FMR LLC grew its stake in shares of Li Auto by 422.4% during the third 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 in the last quarter. Brilliance Asset Management Ltd. grew its position in shares of Li Auto by 0.7% during the fourth quarter. Brilliance Asset Management Ltd. now owns 3,508,642 shares of the company’s stock worth $84,172,000 after buying an additional 24,416 shares in the last quarter. Finally, RWC Asset Advisors US LLC lifted its position in shares of 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 worth $76,313,000 after purchasing an additional 530,390 shares during the last quarter. 9.88% of the stock is owned by institutional investors and hedge funds.

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.