Janney Montgomery Scott LLC Grows Stock Position in Li Auto Inc. (NASDAQ:LI)

Janney Montgomery Scott LLC grew its holdings in shares of Li Auto Inc. (NASDAQ:LI) by 43.8% in the third quarter, Holdings Channel reports. The institutional investor owned 43,137 shares of the company’s stock after purchasing an additional 13,139 shares during the period. Janney Montgomery Scott LLC’s holdings in Li Auto were worth $1,106,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. American Century Companies Inc. lifted its holdings in shares of Li Auto by 20.5% in the 2nd quarter. American Century Companies Inc. now owns 726,684 shares of the company’s stock valued at $12,993,000 after purchasing an additional 123,838 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Li Auto by 2,556.7% during the 3rd 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. Ariose Capital Management Ltd acquired a new position in Li Auto during the 3rd quarter worth approximately $18,099,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Li Auto by 510.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 76,450 shares of the company’s stock worth $2,370,000 after acquiring an additional 63,917 shares during the period. Finally, Swedbank AB acquired a new stake in shares of Li Auto in the 1st quarter worth approximately $2,003,000. 9.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LI. Macquarie reiterated a “neutral” rating and set a $33.00 target price (up previously from $25.00) on shares of Li Auto in a report on Friday, October 4th. Citigroup raised their price objective on Li Auto from $25.50 to $29.60 and gave the company a “neutral” rating in a research report on Monday, September 30th. Bank of America raised their target price on Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Barclays lifted their price target on Li Auto from $22.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. cut their target price on shares of Li Auto from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Li Auto currently has an average rating of “Moderate Buy” and an average price target of $33.94.

Li Auto Stock Performance

NASDAQ LI opened at $22.72 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.13. The stock has a market cap of $24.11 billion, a P/E ratio of 16.83, a PEG ratio of 2.14 and a beta of 0.99. Li Auto Inc. has a twelve month low of $17.44 and a twelve month high of $46.44. The company’s 50-day simple moving average is $24.80 and its 200 day simple moving average is $22.18.

Li Auto (NASDAQ:LI) last posted its earnings results on Wednesday, August 28th. The company reported $0.14 earnings per share for the quarter. The company had revenue of $4.36 billion for the quarter. Li Auto had a net margin of 7.20% and a return on equity of 13.03%. As a group, research analysts forecast that Li Auto Inc. will post 1.04 earnings per share for the current fiscal year.

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.