Li Auto Inc. (NASDAQ:LI) Short Interest Up 5.9% in October

Li Auto Inc. (NASDAQ:LI) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 30,340,000 shares, an increase of 5.9% from the October 15th total of 28,640,000 shares. Based on an average daily volume of 5,590,000 shares, the days-to-cover ratio is presently 5.4 days.

Li Auto Stock Performance

Shares of NASDAQ:LI traded up $1.82 during mid-day trading on Friday, reaching $40.69. 6,730,097 shares of the company traded hands, compared to its average volume of 6,820,882. The company’s 50 day moving average price is $36.38 and its 200-day moving average price is $35.61. The firm has a market cap of $43.17 billion, a PE ratio of 46.27 and a beta of 0.96. Li Auto has a 52 week low of $16.22 and a 52 week high of $47.33. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.69 and a quick ratio of 1.59.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Barclays upped their price target on shares of Li Auto from $34.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, August 10th. TheStreet upgraded shares of Li Auto from a “c” rating to a “b-” rating in a report on Monday, August 28th. Bank of America raised their price target on shares of Li Auto from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, August 16th. Finally, Citigroup upped their price objective on Li Auto from $208.80 to $250.30 in a research report on Thursday, August 10th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $70.42.

Institutional Investors Weigh In On Li Auto

A number of institutional investors and hedge funds have recently bought and sold shares of LI. abrdn plc lifted its stake in Li Auto by 0.9% in the 2nd quarter. abrdn plc now owns 27,844 shares of the company’s stock worth $977,000 after purchasing an additional 247 shares in the last quarter. CWM LLC lifted its position in shares of Li Auto by 28.5% in the second quarter. CWM LLC now owns 1,136 shares of the company’s stock worth $40,000 after buying an additional 252 shares in the last quarter. Stifel Financial Corp boosted its stake in Li Auto by 3.5% during the second quarter. Stifel Financial Corp now owns 8,325 shares of the company’s stock valued at $292,000 after buying an additional 281 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Li Auto by 3.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 14,458 shares of the company’s stock valued at $515,000 after buying an additional 469 shares in the last quarter. Finally, Thornburg Investment Management Inc. increased its stake in Li Auto by 2.0% in the 2nd quarter. Thornburg Investment Management Inc. now owns 25,952 shares of the company’s stock worth $911,000 after acquiring an additional 501 shares during the last quarter. 9.18% of the stock is owned by institutional investors.

About Li Auto

Li Auto Inc, through its subsidiaries, designs, develops, manufactures, and sells new energy vehicles in the People's Republic of China. The company provides Li ONE and Li L series smart electric vehicles. It also offers sales and after sales management, and technology development and corporate management services, as well as purchases manufacturing equipment.