Li Auto (NASDAQ:LI) Sees Strong Trading Volume

Li Auto Inc. (NASDAQ:LI) shares saw unusually-strong trading volume on Wednesday . Approximately 6,247,668 shares traded hands during mid-day trading, a decline of 21% from the previous session’s volume of 7,938,516 shares.The stock last traded at $29.00 and had previously closed at $28.60.

Wall Street Analyst Weigh In

LI has been the topic of several analyst reports. JPMorgan Chase & Co. decreased their price objective on Li Auto from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Bank of America increased their price target on Li Auto from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Citigroup boosted their price objective on shares of Li Auto from $25.50 to $29.60 and gave the company a “neutral” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Li Auto presently has an average rating of “Moderate Buy” and an average target price of $33.66.

Li Auto Price Performance

The stock’s 50 day moving average is $20.45 and its two-hundred day moving average is $22.83. The stock has a market capitalization of $31.32 billion, a PE ratio of 19.07 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.76 and a quick ratio of 1.63.

Li Auto (NASDAQ:LI) last posted its earnings results on Wednesday, August 28th. The company reported $0.14 EPS for the quarter. Li Auto had a return on equity of 13.70% and a net margin of 7.65%. The firm had revenue of $4.36 billion for the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Li Auto by 58.7% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company’s stock worth $28,000 after buying an additional 573 shares during the period. Corient Private Wealth LLC grew its stake in shares of Li Auto by 5.3% in the 4th quarter. Corient Private Wealth LLC now owns 12,664 shares of the company’s stock valued at $474,000 after purchasing an additional 641 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Li Auto by 7.0% in the first quarter. SG Americas Securities LLC now owns 10,427 shares of the company’s stock valued at $316,000 after purchasing an additional 685 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in shares of Li Auto by 2.6% during the second quarter. China Universal Asset Management Co. Ltd. now owns 31,000 shares of the company’s stock worth $554,000 after purchasing an additional 800 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Li Auto by 5.2% during the first quarter. US Bancorp DE now owns 19,784 shares of the company’s stock worth $599,000 after purchasing an additional 970 shares during the period. Institutional investors and hedge funds own 9.88% of the company’s stock.

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.