Li Auto Inc. (NASDAQ:LI) Sees Significant Growth in Short Interest

Li Auto Inc. (NASDAQ:LI) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 31,710,000 shares, a growth of 19.6% from the August 15th total of 26,520,000 shares. Based on an average trading volume of 6,990,000 shares, the days-to-cover ratio is currently 4.5 days.

Wall Street Analyst Weigh In

LI has been the subject of several analyst reports. HSBC upped their target price on Li Auto from $38.00 to $43.00 in a report on Wednesday, June 28th. Barclays raised their target price on shares of Li Auto from $34.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, August 10th. Bank of America lifted their target price on shares of Li Auto from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Citigroup upped their price target on shares of Li Auto from $208.80 to $250.30 in a research report on Thursday, August 10th. Finally, TheStreet upgraded shares of Li Auto from a “c” rating to a “b-” rating in a research report on Monday, August 28th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Li Auto currently has a consensus rating of “Buy” and an average target price of $70.42.

Li Auto Stock Performance

LI stock traded down $0.97 during mid-day trading on Monday, reaching $39.68. 5,577,441 shares of the stock traded hands, compared to its average volume of 7,155,983. The firm has a market capitalization of $39.02 billion, a PE ratio of 169.78 and a beta of 0.85. The business has a 50-day moving average of $40.29 and a two-hundred day moving average of $31.96. Li Auto has a 52 week low of $12.52 and a 52 week high of $47.33. The company has a quick ratio of 1.65, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

Li Auto (NASDAQ:LI) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.30 earnings per share for the quarter. Li Auto had a net margin of 2.45% and a return on equity of 3.92%. The firm had revenue of $3.95 billion during the quarter. As a group, equities analysts predict that Li Auto will post 0.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Li Auto

Institutional investors and hedge funds have recently bought and sold shares of the business. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Li Auto by 137.9% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 325,772 shares of the company’s stock valued at $8,226,000 after purchasing an additional 188,828 shares during the period. US Bancorp DE grew its position in Li Auto by 20.2% in the first quarter. US Bancorp DE now owns 3,890 shares of the company’s stock valued at $100,000 after acquiring an additional 653 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in Li Auto by 67.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 11,177 shares of the company’s stock valued at $288,000 after acquiring an additional 4,485 shares during the period. HighTower Advisors LLC acquired a new position in Li Auto during the first quarter worth $966,000. Finally, APG Asset Management N.V. lifted its holdings in shares of Li Auto by 29.5% during the first quarter. APG Asset Management N.V. now owns 86,520 shares of the company’s stock valued at $2,007,000 after acquiring an additional 19,700 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.