Alpine Global Management LLC Invests $1.37 Million in Li Auto Inc. Sponsored ADR $LI

Key Points

• Alpine Global Management LLC has invested approximately $1.37 million in Li Auto Inc., purchasing 54,200 shares during the first quarter.
• Li Auto's recent earnings report showed a missed estimate on EPS with $0.08, but a revenue of $3.53 billion exceeded expectations, reflecting a 1.1% increase year-over-year.
• Analysts have set new price targets, with estimates ranging from a low of $21.00 to a high of $28.00, suggesting a mixed sentiment on the stock's performance.

Alpine Global Management LLC purchased a new stake in Li Auto Inc. Sponsored ADR (NASDAQ:LI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 54,200 shares of the company's stock, valued at approximately $1,366,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Li Auto by 459.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,923,620 shares of the company's stock worth $426,475,000 after purchasing an additional 13,897,555 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Li Auto during the first quarter worth about $41,076,000. LMR Partners LLP bought a new position in shares of Li Auto during the fourth quarter worth about $16,266,000. Myriad Asset Management US LP bought a new position in shares of Li Auto during the first quarter worth about $9,913,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Li Auto during the fourth quarter worth about $8,923,000. 9.88% of the stock is owned by institutional investors and hedge funds.

Li Auto Trading Up 0.4%

Shares of LI stock opened at $23.35 on Friday. The firm has a market capitalization of $24.45 billion, a P/E ratio of 22.24, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. The company has a current ratio of 1.87, a quick ratio of 1.72 and a debt-to-equity ratio of 0.12. The firm's fifty day simple moving average is $26.53 and its 200 day simple moving average is $26.55. Li Auto Inc. Sponsored ADR has a 1 year low of $18.11 and a 1 year high of $33.12.

Li Auto (NASDAQ:LI - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.45 billion. Li Auto had a net margin of 5.64% and a return on equity of 11.52%. The company's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the firm earned $1.21 EPS. As a group, sell-side analysts predict that Li Auto Inc. Sponsored ADR will post 0.96 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on LI. Sanford C. Bernstein lowered their price target on shares of Li Auto from $26.00 to $25.00 and set a "market perform" rating for the company in a research report on Friday. Cfra Research raised shares of Li Auto from a "strong sell" rating to a "hold" rating in a research note on Tuesday, June 10th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $28.00 target price (down previously from $33.00) on shares of Li Auto in a research note on Thursday, August 14th. BNP Paribas initiated coverage on shares of Li Auto in a research note on Monday, August 18th. They set a "strong sell" rating on the stock. Finally, Macquarie cut shares of Li Auto from a "neutral" rating to an "underperform" rating and lowered their price objective for the stock from $28.00 to $21.00 in a research note on Friday, August 22nd. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $26.26.

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.

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