Li Auto (NASDAQ:LI) Sees Large Volume Increase – Time to Buy?

Shares of Li Auto Inc. (NASDAQ:LI) saw strong trading volume on Friday . 5,836,405 shares changed hands during trading, an increase of 29% from the previous session’s volume of 4,522,601 shares.The stock last traded at $28.02 and had previously closed at $26.37.

Analysts Set New Price Targets

Several brokerages recently issued reports on LI. Macquarie raised Li Auto from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 6th. Barclays upped their target price on Li Auto from $22.00 to $31.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.77.

Li Auto Trading Up 4.1 %

The company has a market capitalization of $29.14 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 3.27 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.64. The company’s fifty day moving average is $24.00 and its 200-day moving average is $23.43.

Institutional Investors Weigh In On Li Auto

A number of institutional investors have recently added to or reduced their stakes in LI. Aspex Management HK Ltd lifted its position in Li Auto by 55.0% during the third quarter. Aspex Management HK Ltd now owns 10,643,926 shares of the company’s stock valued at $273,017,000 after acquiring an additional 3,778,463 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Li Auto by 1.3% during the 4th quarter. Renaissance Technologies LLC now owns 7,800,639 shares of the company’s stock valued at $187,137,000 after purchasing an additional 99,539 shares during the last quarter. FMR LLC boosted its position in shares of Li Auto by 422.4% in the 3rd quarter. FMR LLC now owns 4,252,398 shares of the company’s stock worth $109,074,000 after purchasing an additional 3,438,410 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Li Auto by 2,556.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,630,537 shares of the company’s stock worth $93,503,000 after purchasing an additional 3,493,881 shares in the last quarter. Finally, Brilliance Asset Management Ltd. grew its stake in Li Auto by 0.7% during the 4th quarter. Brilliance Asset Management Ltd. now owns 3,508,642 shares of the company’s stock worth $84,172,000 after buying an additional 24,416 shares during the last quarter. 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.