DnB Asset Management AS Lowers Holdings in Li Auto Inc. (NASDAQ:LI)

DnB Asset Management AS decreased its holdings in Li Auto Inc. (NASDAQ:LIGet Rating) by 3.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 23,818 shares of the company’s stock after selling 844 shares during the quarter. DnB Asset Management AS’s holdings in Li Auto were worth $912,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LI. Captrust Financial Advisors boosted its stake in shares of Li Auto by 584.1% in the first quarter. Captrust Financial Advisors now owns 1,074 shares of the company’s stock valued at $28,000 after purchasing an additional 917 shares during the period. Elequin Capital LP purchased a new position in Li Auto in the first quarter worth approximately $32,000. Prospera Financial Services Inc purchased a new position in Li Auto in the first quarter worth approximately $65,000. Signaturefd LLC lifted its stake in Li Auto by 36.5% in the first quarter. Signaturefd LLC now owns 3,854 shares of the company’s stock worth $99,000 after acquiring an additional 1,031 shares during the last quarter. Finally, US Bancorp DE lifted its stake in Li Auto by 20.2% in the first quarter. US Bancorp DE now owns 3,890 shares of the company’s stock worth $100,000 after acquiring an additional 653 shares during the last quarter. Hedge funds and other institutional investors own 21.99% of the company’s stock.

Li Auto Stock Performance

Shares of Li Auto stock opened at $23.10 on Thursday. The firm’s fifty day simple moving average is $30.83 and its 200-day simple moving average is $28.73. The stock has a market capitalization of $23.86 billion, a price-to-earnings ratio of -461.91 and a beta of 0.45. Li Auto Inc. has a 12 month low of $16.86 and a 12 month high of $41.49. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.25 and a quick ratio of 3.08.

Li Auto (NASDAQ:LIGet Rating) last announced its quarterly earnings data on Monday, August 15th. The company reported ($0.10) earnings per share (EPS) for the quarter. The firm had revenue of $8.73 billion during the quarter, compared to analyst estimates of $9.50 billion. Li Auto had a negative net margin of 0.90% and a negative return on equity of 0.79%. The business’s quarterly revenue was up 73.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) earnings per share. As a group, equities analysts forecast that Li Auto Inc. will post -0.4 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. CLSA assumed coverage on shares of Li Auto in a research note on Monday, August 8th. They issued a “buy” rating for the company. TheStreet cut shares of Li Auto from a “c” rating to a “d+” rating in a report on Monday, September 12th. Finally, Citigroup raised their price objective on shares of Li Auto from $26.80 to $58.60 and gave the stock a “buy” rating in a report on Tuesday, June 21st. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $42.69.

About Li Auto

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Li Auto Inc, through its subsidiaries, designs, develops, manufactures, and sells new energy vehicles in the People's Republic of China. The company provides Li ONE, a six-seat smart electric sport utility vehicle that is equipped with smart vehicle solutions, navigation on ADAS, and automatic emergency breaking functionalities.

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Institutional Ownership by Quarter for Li Auto (NASDAQ:LI)

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