US Bancorp DE Cuts Stake in Li Auto Inc. (NASDAQ:LI)

US Bancorp DE reduced its stake in shares of Li Auto Inc. (NASDAQ:LI) by 34.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,841 shares of the company’s stock after selling 5,606 shares during the period. US Bancorp DE’s holdings in Li Auto were worth $278,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in Li Auto by 2,556.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,630,537 shares of the company’s stock valued at $93,503,000 after buying an additional 3,493,881 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Li Auto during the second quarter worth approximately $21,626,000. American Century Companies Inc. grew its position in shares of Li Auto by 20.5% during the second quarter. American Century Companies Inc. now owns 726,684 shares of the company’s stock worth $12,993,000 after buying an additional 123,838 shares in the last quarter. Ariose Capital Management Ltd acquired a new stake in shares of Li Auto during the third quarter worth approximately $18,099,000. Finally, FIFTHDELTA Ltd acquired a new stake in shares of Li Auto during the first quarter worth approximately $14,816,000. Hedge funds and other institutional investors own 9.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Citigroup lifted their price objective on shares of Li Auto from $25.50 to $29.60 and gave the stock a “neutral” rating in a report on Monday, September 30th. Macquarie reaffirmed a “neutral” rating and issued a $33.00 price objective (up previously from $25.00) on shares of Li Auto in a report on Friday, October 4th. Barclays raised their target price on Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. cut their target price on Li Auto from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Finally, Bank of America raised their target price on Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Li Auto presently has an average rating of “Moderate Buy” and an average price target of $33.94.

Li Auto Trading Down 1.1 %

NASDAQ:LI opened at $22.35 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.64. Li Auto Inc. has a fifty-two week low of $17.44 and a fifty-two week high of $46.44. The stock’s 50-day moving average is $24.57 and its two-hundred day moving average is $22.21. The stock has a market cap of $23.71 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 2.17 and a beta of 0.99.

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

Li Auto Company Profile

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.