Li Auto (NASDAQ:LI) Shares Up 4.7%

Li Auto Inc. (NASDAQ:LI) shares traded up 4.7% during trading on Wednesday . The company traded as high as $20.58 and last traded at $20.37. 1,648,110 shares changed hands during trading, a decline of 80% from the average session volume of 8,076,393 shares. The stock had previously closed at $19.45.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LI. Macquarie started coverage on Li Auto in a research note on Monday, April 15th. They set an “outperform” rating and a $40.00 price target for the company. Morgan Stanley cut their price target on shares of Li Auto from $65.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, May 21st. Barclays decreased their price objective on shares of Li Auto from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Tuesday, May 21st. Bank of America reduced their target price on shares of Li Auto from $41.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, May 21st. Finally, Citigroup lowered their price target on Li Auto from $57.30 to $48.50 and set a “buy” rating for the company in a report on Friday, March 22nd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.08.

Li Auto Trading Up 6.5 %

The stock has a market capitalization of $21.98 billion, a P/E ratio of 13.81, a P/E/G ratio of 2.50 and a beta of 0.97. The company has a quick ratio of 1.37, a current ratio of 1.53 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average price is $21.88 and its 200-day moving average price is $28.72.

Li Auto (NASDAQ:LI) last announced its quarterly earnings results on Monday, May 20th. The company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $3.55 billion for the quarter. Li Auto had a return on equity of 16.65% and a net margin of 8.73%. As a group, equities research analysts expect that Li Auto Inc. will post 1.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LI. Scarborough Advisors LLC purchased a new position in Li Auto during the 4th quarter worth $41,000. Rakuten Securities Inc. purchased a new stake in shares of Li Auto during the fourth quarter worth about $57,000. Employees Retirement System of Texas acquired a new position in shares of Li Auto during the third quarter valued at about $130,000. Barometer Capital Management Inc. acquired a new stake in Li Auto in the 4th quarter worth approximately $135,000. Finally, Tucker Asset Management LLC purchased a new stake in Li Auto during the 3rd quarter worth approximately $217,000. 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.