5 Hot Growth Stocks To Buy Now

3. Li Auto Inc. (NASDAQ:LI)

Revenue Growth Rate over Last 12 Months: 86.29%
3 months return: 47.40%
Number of Hedge Fund Holders: 20

Li Auto Inc. (NASDAQ:LI) creates, develops, produces, and distributes premium smart electric SUVs. It offers families safe, convenient, and cost-effective mobility alternatives. Li Auto, which began mass production in November 2019, has so far given out 257,334 automobiles. That is a great lift for a new electric vehicle startup. Annual deliveries at Li Auto Inc. (NASDAQ:LI) increased by 47% in 2022. The six-seat Li L8 and the six-seat Li L9 luxury SUVs sold more than 10,000 units each in December.

Li Auto recorded monthly deliveries of 15,141 automobiles in January 2023, increasing 23.4% year over year, indicating overall strength. By the end of January, there had been 272,475 total deliveries. By the end of January, there had been 272,475 total deliveries. Li Auto is investing significantly in technology to make its SUVs more appealing to the luxury market. It wants to stand out from rivals by delivering something different. Li Auto intends to introduce three new products in 2023, including flagship models with longer ranges built on the brand-new high-voltage platform for pure battery electric vehicles (BEVs). The initial medium-sized car is anticipated to cost between 200,000 and 300,000 RMB (29,700-44,600 USD).

On February 9, Citi analyst Jeff Chung maintained a Buy rating on the shares while increasing his price objective on Li Auto to $51.50 from $48. In addition, the analyst increased Citi’s 2023 sales prediction from 210,000 to 235,000 units in response to recent new product introductions. At the end of Q3 2022, 20 hedge funds owned a stake in Li Auto Inc. (NASDAQ:LI), down from 28 in the preceding quarter.

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