Li Auto (NASDAQ:LI) Sees Strong Trading Volume – Here’s Why

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.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LI. Barclays lifted their price target on shares of Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Macquarie upgraded Li Auto from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.77.

Li Auto Stock Performance

The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.13. The business has a 50 day simple moving average of $23.90 and a two-hundred day simple moving average of $23.34. The firm has a market cap of $29.24 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 3.28 and a beta of 0.92.

Hedge Funds Weigh In On Li Auto

Several institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in Li Auto by 2,556.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,630,537 shares of the company’s stock valued at $93,503,000 after purchasing an additional 3,493,881 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Li Auto by 27.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 432,988 shares of the company’s stock valued at $11,106,000 after purchasing an additional 93,904 shares during the last quarter. Atomi Financial Group Inc. acquired a new position in Li Auto in the 4th quarter valued at $271,000. Barclays PLC raised its stake in Li Auto by 41.8% in the 3rd quarter. Barclays PLC now owns 602,028 shares of the company’s stock valued at $15,442,000 after purchasing an additional 177,414 shares during the last quarter. Finally, Ping Capital Management Inc. raised its stake in Li Auto by 161.9% in the 4th quarter. Ping Capital Management Inc. now owns 27,500 shares of the company’s stock valued at $660,000 after purchasing an additional 17,000 shares during the last quarter. 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.