Li Auto Inc. (NASDAQ:LI – Get Free Report) saw unusually-high trading volume on Friday . Approximately 5,628,766 shares were traded 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.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the stock. Macquarie raised 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 Li Auto and gave the stock a “buy” rating in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. raised shares of Li Auto from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $22.00 to $40.00 in a research note on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Li Auto presently has a consensus rating of “Moderate Buy” and an average price target of $36.59.
Check Out Our Latest Report on LI
Li Auto Stock Performance
Hedge Funds Weigh In On Li Auto
Several institutional investors and hedge funds have recently modified their holdings of LI. Venturi Wealth Management LLC acquired a new stake in shares of Li Auto during the 3rd quarter worth $50,000. BNP Paribas grew its holdings in shares of 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 purchasing an additional 1,500 shares during the period. Avior Wealth Management LLC grew its holdings in shares of Li Auto by 708.5% during the 3rd quarter. Avior Wealth Management LLC now owns 2,385 shares of the company’s stock worth $61,000 after purchasing an additional 2,090 shares during the period. Daiwa Securities Group Inc. increased its position in Li Auto by 16.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the company’s stock worth $84,000 after purchasing an additional 500 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in Li Auto in the fourth quarter valued at approximately $129,000. Hedge funds and other 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.
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