Assenagon Asset Management S.A. Makes New $30.06 Million Investment in Li Auto Inc. Sponsored ADR $LI

Key Points

• Assenagon Asset Management S.A. has made a new investment in Li Auto Inc., acquiring approximately 1.1 million shares valued at about $30 million, representing about 0.11% of the company.
• The stock of Li Auto opened at $25.75 and has experienced a 1.2% decline, with a market cap of $26.96 billion and a PE ratio of 24.52.
• Recent analysts' ratings have been cautious, with several downgrading their outlook, resulting in a consensus rating of "Reduce" and a price target around $26.26.

Assenagon Asset Management S.A. acquired a new stake in Li Auto Inc. Sponsored ADR (NASDAQ:LI - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,108,647 shares of the company's stock, valued at approximately $30,055,000. Assenagon Asset Management S.A. owned 0.11% of Li Auto at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its holdings in Li Auto by 9.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,134 shares of the company's stock worth $155,000 after purchasing an additional 538 shares during the period. US Bancorp DE increased its holdings in Li Auto by 9.0% during the 1st quarter. US Bancorp DE now owns 10,255 shares of the company's stock worth $258,000 after purchasing an additional 844 shares during the period. SVB Wealth LLC purchased a new stake in Li Auto during the 1st quarter worth about $33,000. Summit Securities Group LLC purchased a new stake in Li Auto during the 1st quarter worth about $50,000. Finally, Vident Advisory LLC increased its holdings in Li Auto by 11.2% during the 4th quarter. Vident Advisory LLC now owns 19,914 shares of the company's stock worth $478,000 after purchasing an additional 1,998 shares during the period. Hedge funds and other institutional investors own 9.88% of the company's stock.

Li Auto Price Performance

Shares of LI stock traded down $0.30 during mid-day trading on Monday, reaching $25.45. The stock had a trading volume of 3,918,167 shares, compared to its average volume of 5,983,260. The company has a current ratio of 1.73, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The business has a 50-day simple moving average of $25.72 and a 200 day simple moving average of $26.19. The company has a market cap of $26.65 billion, a P/E ratio of 24.24 and a beta of 0.97. Li Auto Inc. Sponsored ADR has a 12-month low of $19.10 and a 12-month high of $33.12.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LI. BNP Paribas began coverage on Li Auto in a research report on Monday, August 18th. They set a "strong sell" rating for the company. Barclays lowered their price objective on Li Auto from $31.00 to $24.00 and set an "equal weight" rating for the company in a research report on Thursday, August 28th. BNP Paribas Exane began coverage on Li Auto in a research report on Monday, August 18th. They set an "underperform" rating and a $18.00 price objective for the company. Bank of America cut Li Auto from a "buy" rating to a "neutral" rating and set a $26.00 target price for the company. in a research report on Thursday, August 28th. Finally, Cfra Research raised Li Auto from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Li Auto has an average rating of "Reduce" and a consensus target price of $26.26.

Li Auto 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.