Mitsubishi UFJ Asset Management Co. Ltd. Reduces Stake in Li Auto Inc. Sponsored ADR $LI

Mitsubishi UFJ Asset Management Co. Ltd. cut its stake in Li Auto Inc. Sponsored ADR (NASDAQ:LI) by 26.1% in the second quarter, Holdings Channel reports. The fund owned 67,937 shares of the company’s stock after selling 24,019 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Li Auto were worth $1,842,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LI. SVB Wealth LLC purchased a new stake in shares of Li Auto in the first quarter valued at about $33,000. Summit Securities Group LLC acquired a new position in Li Auto in the 1st quarter valued at about $50,000. Hantz Financial Services Inc. boosted its holdings in Li Auto by 1,196.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 4,150 shares of the company’s stock valued at $113,000 after purchasing an additional 3,830 shares during the last quarter. Brooklyn Investment Group grew its stake in shares of Li Auto by 1,077.3% in the 1st quarter. Brooklyn Investment Group now owns 4,980 shares of the company’s stock valued at $125,000 after buying an additional 4,557 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Li Auto by 9.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,134 shares of the company’s stock worth $155,000 after buying an additional 538 shares during the last quarter. Institutional investors and hedge funds own 9.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LI. CLSA raised shares of Li Auto to a “strong-buy” rating in a research report on Monday, September 22nd. Zacks Research raised Li Auto from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. BNP Paribas Exane began coverage on Li Auto in a research report on Monday, August 18th. They issued an “underperform” rating and a $18.00 target price on the stock. BNP Paribas assumed coverage on Li Auto in a research note on Monday, August 18th. They issued a “strong sell” rating on the stock. Finally, Sanford C. Bernstein cut their price objective on Li Auto from $26.00 to $25.00 and set a “market perform” rating for the company in a research report on Friday, August 29th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $24.94.

Li Auto Stock Down 0.4%

LI opened at $19.93 on Friday. The firm has a market cap of $20.87 billion, a P/E ratio of 18.98 and a beta of 1.05. The business’s fifty day simple moving average is $23.18 and its 200 day simple moving average is $25.60. Li Auto Inc. Sponsored ADR has a 52 week low of $19.10 and a 52 week high of $33.12. The company has a quick ratio of 1.57, a current ratio of 1.73 and a debt-to-equity ratio of 0.03.

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.