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

Advisors Asset Management Inc. increased its stake in shares of Li Auto Inc. (NASDAQ:LI) by 44.1% in the third quarter, according to its most recent 13F filing with the SEC. 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 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Li Auto during the 3rd quarter worth approximately $39,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Li Auto by 58.7% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company’s stock worth $28,000 after buying an additional 573 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in Li Auto during the 3rd quarter worth approximately $50,000. Blue Trust Inc. lifted its holdings in Li Auto by 1,707.4% during the 2nd quarter. Blue Trust Inc. now owns 1,952 shares of the company’s stock worth $35,000 after buying an additional 1,844 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its holdings in Li Auto by 708.5% during the 3rd quarter. Avior Wealth Management LLC now owns 2,385 shares of the company’s stock worth $61,000 after buying an additional 2,090 shares in the last quarter. Hedge funds and other institutional investors own 9.88% of the company’s stock.

Li Auto Price Performance

Shares of NASDAQ:LI opened at $23.31 on Thursday. The company’s fifty day moving average price is $25.28 and its 200 day moving average price is $21.87. Li Auto Inc. has a 12 month low of $17.44 and a 12 month high of $46.44. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.64. The firm has a market capitalization of $24.73 billion, a P/E ratio of 17.27, a P/E/G ratio of 2.15 and a beta of 0.99.

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

Analyst Ratings Changes

A number of research firms have issued reports on LI. JPMorgan Chase & Co. reduced 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. Barclays increased their target price 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. Macquarie reiterated a “neutral” rating and set a $33.00 target price (up from $25.00) on shares of Li Auto in a report on Friday, October 4th. Bank of America raised their price objective on shares of Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Citigroup raised their price objective 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. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus 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.