Li Auto (NASDAQ:LI) Sees Strong Trading Volume

Li Auto Inc. (NASDAQ:LI) saw unusually-high trading volume on Wednesday . Approximately 6,247,668 shares were traded 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.

Analysts Set New Price Targets

Several research firms recently issued reports on LI. JPMorgan Chase & Co. cut their price target on shares of Li Auto from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Citigroup upped their price target on shares of Li Auto from $25.50 to $29.60 and gave the stock a “neutral” rating in a research note on Monday. Finally, Bank of America raised their price objective on shares of Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Li Auto presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.66.

Li Auto Trading Up 3.2 %

The company has a market cap of $31.32 billion, a price-to-earnings 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. The business’s 50-day simple moving average is $20.45 and its 200-day simple moving average is $22.83.

Li Auto (NASDAQ:LI) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.14 earnings per share (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 during the quarter.

Institutional Investors Weigh In On Li Auto

Hedge funds and other institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Li Auto by 1,059.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 25,028 shares of the company’s stock worth $447,000 after purchasing an additional 22,869 shares during the last quarter. Susquehanna International Securities Ltd. acquired a new stake in Li Auto in the 2nd quarter worth about $257,000. HITE Hedge Asset Management LLC purchased a new stake in Li Auto in the 2nd quarter valued at about $478,000. Bank of Montreal Can acquired a new position in shares of Li Auto during the 2nd quarter valued at about $2,041,000. Finally, DRW Securities LLC lifted its holdings in shares of Li Auto by 251.9% during the 2nd quarter. DRW Securities LLC now owns 68,397 shares of the company’s stock worth $1,220,000 after acquiring an additional 48,963 shares during the period. 9.88% of the stock is currently owned by hedge funds and other institutional investors.

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.