Price T Rowe Associates Inc. MD boosted its holdings in Li Auto Inc. (NASDAQ:LI – Get Rating) by 56.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,090,017 shares of the company’s stock after purchasing an additional 1,113,657 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Li Auto were worth $71,102,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the company. Creative Planning raised its stake in shares of Li Auto by 2.8% during the second quarter. Creative Planning now owns 19,438 shares of the company’s stock valued at $745,000 after purchasing an additional 521 shares during the period. Cigna Investments Inc. New grew its position in shares of Li Auto by 5.4% during the third quarter. Cigna Investments Inc. New now owns 11,013 shares of the company’s stock worth $253,000 after buying an additional 561 shares in the last quarter. US Bancorp DE grew its position in shares of Li Auto by 20.2% during the first quarter. US Bancorp DE now owns 3,890 shares of the company’s stock worth $100,000 after buying an additional 653 shares in the last quarter. Ensign Peak Advisors Inc grew its position in shares of Li Auto by 2.2% during the first quarter. Ensign Peak Advisors Inc now owns 40,050 shares of the company’s stock worth $1,034,000 after buying an additional 850 shares in the last quarter. Finally, Captrust Financial Advisors grew its position in shares of 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 buying an additional 917 shares in the last quarter. Hedge funds and other institutional investors own 20.97% of the company’s stock.
Analyst Ratings Changes
A number of research firms have recently weighed in on LI. HSBC raised their price target on shares of Li Auto from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, March 3rd. Barclays raised their price target on shares of Li Auto from $25.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 28th. CLSA decreased their price target on shares of Li Auto from $49.00 to $31.00 in a research report on Thursday, December 15th. Citigroup lifted their price objective on shares of Li Auto from $48.00 to $51.50 and gave the stock a “buy” rating in a report on Thursday, February 9th. Finally, Jefferies Financial Group initiated coverage on shares of Li Auto in a report on Monday, November 28th. They issued a “buy” rating and a $20.66 price objective for the company. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $37.04.
Li Auto Stock Performance
Li Auto (NASDAQ:LI – Get Rating) last announced its quarterly earnings results on Friday, December 9th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.01. Li Auto had a negative net margin of 4.30% and a negative return on equity of 4.48%. The company had revenue of $1.31 billion during the quarter. As a group, equities analysts anticipate that Li Auto Inc. will post 0.29 earnings per share for the current year.
Li Auto Company Profile
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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