Li Auto (NASDAQ:LI) Shares Up 3.7% – Still a Buy?

Li Auto Inc. (NASDAQ:LI) was up 3.7% on Wednesday . The stock traded as high as $23.41 and last traded at $23.23. Approximately 3,909,193 shares traded hands during trading, a decline of 50% from the average daily volume of 7,769,406 shares. The stock had previously closed at $22.40.

Wall Street Analysts Forecast Growth

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

Li Auto Price Performance

The stock’s 50 day moving average price is $24.35 and its 200-day moving average price is $21.91. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $24.15 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 2.18 and a beta of 0.94.

Institutional Investors Weigh In On Li Auto

Several large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new position in shares of Li Auto during the 3rd quarter worth $39,000. Venturi Wealth Management LLC purchased a new stake in Li Auto in the third quarter worth about $50,000. Blue Trust Inc. lifted its stake in Li Auto by 1,707.4% in the second 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 period. BNP Paribas grew its holdings in 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 in the last quarter. Finally, Avior Wealth Management LLC increased its position in 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 purchasing an additional 2,090 shares during the period. 9.88% of the stock is owned by hedge funds and other 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.