Li Auto (NASDAQ:LI) Sees Large Volume Increase – Still a Buy?

Li Auto Inc. (NASDAQ:LI) saw unusually-high trading volume on Friday . Approximately 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

A number of research analysts have recently commented on the company. Macquarie upgraded Li Auto from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 6th. Barclays increased their price objective on shares of Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, 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 stock has a market cap of $29.14 billion, a PE ratio of 20.34, a PEG ratio of 3.27 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.64 and a current ratio of 1.76. The stock has a fifty day moving average price of $24.00 and a 200 day moving average price of $23.43.

Institutional Investors Weigh In On Li Auto

Several institutional investors have recently made changes to their positions in LI. Allspring Global Investments Holdings LLC purchased a new position in Li Auto during the 3rd quarter valued at $39,000. Venturi Wealth Management LLC bought a new stake in shares of Li Auto during the third quarter worth $50,000. BNP Paribas boosted its stake in shares of Li Auto by 300.0% during the third quarter. BNP Paribas now owns 2,000 shares of the company’s stock valued at $51,000 after purchasing an additional 1,500 shares during the period. Avior Wealth Management LLC boosted its stake in shares of Li Auto by 708.5% during the third quarter. Avior Wealth Management LLC now owns 2,385 shares of the company’s stock valued at $61,000 after purchasing an additional 2,090 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Li Auto by 55.9% in the third quarter. Blue Trust Inc. now owns 3,043 shares of the company’s stock worth $78,000 after purchasing an additional 1,091 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.