Li Auto (NASDAQ:LI) Stock Price Up 3.7% - Here's Why

Li Auto Inc. (NASDAQ:LI) saw its stock price increase by 3.7% on Wednesday, climbing as high as $23.41 and closing at $23.23. During the trading session, approximately 3,909,193 shares were exchanged, marking a 50% drop from the average trading volume of 7,769,406 shares. The previous close was $22.40.

Wall Street Analysts Forecast Growth

Several analysts have shared their insights regarding Li Auto shares. Recently, Bank of America raised its target price for Li Auto from $30.00 to $31.00, maintaining a "buy" rating. Citigroup also adjusted its price target, increasing it from $25.50 to $29.60 while keeping a "neutral" rating. Macquarie reiterated a "neutral" rating with a target price of $33.00, up from the previous $25.00. Meanwhile, JPMorgan Chase lowered its price target from $21.00 to $19.00, assigning a "neutral" rating. Barclays increased its target from $22.00 to $31.00 while issuing an "equal weight" rating on the stock.

A consensus analysis indicates that four analysts have given the stock a hold rating, while another four offered a buy rating, resulting in a consensus rating of "Moderate Buy" and an average price target of $33.94 according to MarketBeat.

Li Auto Trading Stats

Li Auto also recorded a trading boost of 1.6%. The company's financial ratios show a quick ratio of 1.64, a current ratio of 1.76, and a low debt-to-equity ratio of 0.13. The stock's 50-day moving average stands at $24.35, while the 200-day moving average is $21.91. Li Auto boasts a market capitalization of $24.15 billion, with a PE ratio of 16.86 and a PEG ratio of 2.18, alongside a beta of 0.94.

Institutional Trading Activity

Recent institutional trading has seen numerous hedge funds and investors adjusting their stakes in Li Auto. Notably, Blue Trust Inc. increased its holdings in Li Auto by an astounding 1,707.4% during the second quarter, now owning 1,952 shares valued at $35,000 after adding 1,844 shares. Allspring Global Investments Holdings LLC acquired a new position in Li Auto during the third quarter worth $39,000. Venturi Wealth Management LLC also established a new stake in the third quarter valued at $50,000.

BNP Paribas raised its investment in Li Auto by 300% in the third quarter, holding 2,000 shares now valued at $51,000 after purchasing an additional 1,500 shares. Furthermore, Avior Wealth Management LLC boosted its stake by 708.5%, now owning 2,385 shares worth $61,000 after adding 2,090 more shares. Currently, institutional investors own 9.88% of the stock.

Li Auto Overview

Li Auto Inc. operates within the electric vehicle sector in China, focusing on designing, developing, manufacturing, and selling premium smart electric vehicles, including MPVs and SUVs. The company also offers sales and after-sales services, technology development, and corporate management solutions.

Investment Considerations

Before investing in Li Auto, it's recommended to consider insights from top analysts who might suggest other investment opportunities as well. While Li Auto has a current "Moderate Buy" rating, other stocks could present more favorable investment options according to expert assessments.

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