Ninety One UK Ltd Purchases New Stake in Li Auto Inc. (NASDAQ:LI)

Ninety One UK Ltd purchased a new stake in Li Auto Inc. (NASDAQ:LI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 959,015 shares of the company’s stock, valued at approximately $35,896,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Comerica Bank acquired a new stake in Li Auto during the second quarter worth $290,000. IFP Advisors Inc increased its stake in Li Auto by 233.3% during the second quarter. IFP Advisors Inc now owns 1,000 shares of the company’s stock worth $35,000 after acquiring an additional 700 shares during the last quarter. Captrust Financial Advisors increased its stake in Li Auto by 584.1% during the first quarter. Captrust Financial Advisors now owns 1,074 shares of the company’s stock worth $28,000 after acquiring an additional 917 shares during the last quarter. Concourse Financial Group Securities Inc. increased its stake in Li Auto by 186.0% during the third quarter. Concourse Financial Group Securities Inc. now owns 1,430 shares of the company’s stock worth $51,000 after acquiring an additional 930 shares during the last quarter. Finally, Rakuten Securities Inc. acquired a new stake in Li Auto during the fourth quarter worth $57,000. Institutional investors and hedge funds own 9.88% of the company’s stock.

Li Auto Stock Up 1.6 %

Li Auto stock opened at $29.18 on Friday. Li Auto Inc. has a fifty-two week low of $21.48 and a fifty-two week high of $47.33. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.48 and a current ratio of 1.57. The company has a market capitalization of $30.96 billion, a P/E ratio of 18.83 and a beta of 1.04. The stock has a 50-day simple moving average of $33.65 and a 200-day simple moving average of $34.15.

Li Auto (NASDAQ:LI) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.49 earnings per share (EPS) for the quarter. Li Auto had a return on equity of 18.37% and a net margin of 9.44%. The firm had revenue of $5.88 billion for the quarter. Equities research analysts expect that Li Auto Inc. will post 1.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LI. Citigroup cut their target price on Li Auto from $57.30 to $48.50 and set a “buy” rating for the company in a research note on Friday, March 22nd. Bank of America decreased their target price on Li Auto from $60.00 to $55.00 and set a “buy” rating for the company in a report on Monday, March 18th. Morgan Stanley decreased their target price on Li Auto from $74.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, March 25th. Deutsche Bank Aktiengesellschaft raised Li Auto from a “hold” rating to a “buy” rating and decreased their price target for the stock from $45.00 to $41.00 in a report on Tuesday, February 6th. Finally, Barclays decreased their price target on Li Auto from $56.00 to $39.00 and set an “overweight” rating for the company in a report on Friday, March 22nd. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $47.36.

About Li Auto

Li Auto Inc, through its subsidiaries, 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 also offers sales and after sales management, and technology development and corporate management services, as well as purchases manufacturing equipment.