Advisors Asset Management Inc. Raises Stake in Li Auto Inc. (NASDAQ:LI)

Advisors Asset Management Inc. boosted its holdings in shares of Li Auto Inc. (NASDAQ:LI) by 44.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 18,495 shares of the company’s stock after purchasing an additional 5,660 shares during the period. Advisors Asset Management Inc.’s holdings in Li Auto were worth $474,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. grew its position in Li Auto by 20.5% during the 2nd quarter. American Century Companies Inc. now owns 726,684 shares of the company’s stock worth $12,993,000 after purchasing an additional 123,838 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Li Auto by 2,556.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,630,537 shares of the company’s stock valued at $93,503,000 after acquiring an additional 3,493,881 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Li Auto by 27.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 432,988 shares of the company’s stock valued at $11,106,000 after acquiring an additional 93,904 shares in the last quarter. Ariose Capital Management Ltd purchased a new stake in shares of Li Auto in the third quarter valued at about $18,099,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Li Auto by 510.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 76,450 shares of the company’s stock valued at $2,370,000 after acquiring an additional 63,917 shares in the last quarter. 9.88% of the stock is owned by hedge funds and other institutional investors.

Li Auto Stock Performance

Shares of LI opened at $23.31 on Thursday. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13. The stock has a market cap of $24.73 billion, a P/E ratio of 17.27, a PEG ratio of 2.15 and a beta of 0.99. The company has a 50-day moving average of $25.28 and a two-hundred day moving average of $21.87. Li Auto Inc. has a 12-month low of $17.44 and a 12-month high of $46.44.

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

Analyst Ratings Changes

LI has been the topic of several analyst reports. Citigroup lifted their target price on shares of Li Auto from $25.50 to $29.60 and gave the company a “neutral” rating in a report on Monday, September 30th. Macquarie reaffirmed a “neutral” rating and issued a $33.00 target price (up previously from $25.00) on shares of Li Auto in a report on Friday, October 4th. JPMorgan Chase & Co. lowered 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. Bank of America boosted their price objective on shares of Li Auto from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Barclays boosted their price objective on shares of Li Auto from $22.00 to $31.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Li Auto has an average rating of “Moderate Buy” and an average target price of $33.94.

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.