Li Auto Inc. (NASDAQ:LI – Get Free Report)’s share price rose 5.9% during trading on Friday . The stock traded as high as $41.71 and last traded at $41.16. Approximately 2,280,644 shares changed hands during trading, a decline of 66% from the average daily volume of 6,794,859 shares. The stock had previously closed at $38.87.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on LI. Citigroup increased their target price on Li Auto from $208.80 to $250.30 in a report on Thursday, August 10th. Bank of America increased their target price on Li Auto from $56.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, August 16th. TheStreet upgraded Li Auto from a “c” rating to a “b-” rating in a report on Monday, August 28th. Finally, Barclays increased their target price on Li Auto from $34.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, August 10th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Li Auto presently has an average rating of “Buy” and a consensus price target of $70.42.
Li Auto Trading Up 5.0 %
Institutional Trading of Li Auto
Institutional investors and hedge funds have recently modified their holdings of the business. Comerica Bank bought a new stake in shares of Li Auto in the 2nd quarter worth $290,000. IFP Advisors Inc increased its holdings in shares of Li Auto by 233.3% in the 2nd quarter. IFP Advisors Inc now owns 1,000 shares of the company’s stock worth $35,000 after purchasing an additional 700 shares in the last quarter. Captrust Financial Advisors grew its holdings in shares of Li Auto by 584.1% in the first quarter. Captrust Financial Advisors now owns 1,074 shares of the company’s stock worth $28,000 after acquiring an additional 917 shares during the period. CWM LLC grew its holdings in shares of Li Auto by 28.5% in the second quarter. CWM LLC now owns 1,136 shares of the company’s stock worth $40,000 after acquiring an additional 252 shares during the period. Finally, Concourse Financial Group Securities Inc. grew its holdings in shares of Li Auto by 186.0% in the third quarter. Concourse Financial Group Securities Inc. now owns 1,430 shares of the company’s stock worth $51,000 after acquiring an additional 930 shares during the period. Institutional investors own 9.18% of the company’s stock.
Li Auto Company Profile
Li Auto Inc, through its subsidiaries, designs, develops, manufactures, and sells new energy vehicles in the People's Republic of China. The company provides Li ONE and Li L series smart electric vehicles. It also offers sales and after sales management, and technology development and corporate management services, as well as purchases manufacturing equipment.
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