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

Shares of Li Auto Inc. (NASDAQ:LI) saw unusually-strong trading volume on Friday . Approximately 5,836,405 shares were traded 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.

Analyst Upgrades and Downgrades

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

Li Auto Price Performance

The business’s fifty day moving average is $23.90 and its 200-day moving average is $23.34. 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 firm has a market cap of $29.24 billion, a PE ratio of 20.42, a P/E/G ratio of 3.28 and a beta of 0.92.

Institutional Trading of Li Auto

Large investors have recently added to or reduced their stakes in the stock. 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 worth $93,503,000 after purchasing an additional 3,493,881 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Li Auto by 27.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 432,988 shares of the company’s stock worth $11,106,000 after purchasing an additional 93,904 shares during the period. Atomi Financial Group Inc. bought a new position in Li Auto during the fourth quarter worth about $271,000. Barclays PLC boosted its position in Li Auto by 41.8% during the third quarter. Barclays PLC now owns 602,028 shares of the company’s stock worth $15,442,000 after purchasing an additional 177,414 shares during the period. Finally, Ping Capital Management Inc. boosted its position in Li Auto by 161.9% during the fourth quarter. Ping Capital Management Inc. now owns 27,500 shares of the company’s stock worth $660,000 after purchasing an additional 17,000 shares during the period. Hedge funds and other institutional investors own 9.88% of the company’s stock.

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.