Cerity Partners LLC Invests $272,000 in Li Auto Inc. Sponsored ADR (NASDAQ:LI)

Key Points

• Cerity Partners LLC invested approximately $272,000 in Li Auto Inc. by acquiring 10,792 shares during the first quarter.
• Li Auto's stock rating was upgraded from a "strong sell" to a "hold" by Cfra Research, with an average target price of $32.85.
• In its last quarterly report, Li Auto reported an earnings per share of $0.08, slightly missing estimates, and saw a revenue increase of 1.1% year-over-year.

Cerity Partners LLC purchased a new position in shares of 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. The firm purchased 10,792 shares of the company's stock, valued at approximately $272,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new stake in shares of Li Auto during the 4th quarter valued at about $544,000. American Century Companies Inc. grew its position in shares of Li Auto by 14.9% during the 4th quarter. American Century Companies Inc. now owns 1,005,524 shares of the company's stock valued at $24,123,000 after acquiring an additional 130,598 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Li Auto by 110.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 260,552 shares of the company's stock valued at $6,251,000 after acquiring an additional 136,904 shares during the period. O Shaughnessy Asset Management LLC grew its position in shares of Li Auto by 91.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 27,558 shares of the company's stock valued at $661,000 after acquiring an additional 13,187 shares during the period. Finally, OLD Mission Capital LLC acquired a new stake in shares of Li Auto during the 4th quarter valued at about $14,704,000. 9.88% of the stock is owned by institutional investors and hedge funds.

Li Auto Price Performance

Li Auto stock traded down $0.14 during midday trading on Thursday, reaching $26.32. The company had a trading volume of 2,208,534 shares, compared to its average volume of 5,457,719. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.87 and a quick ratio of 1.72. The firm's fifty day simple moving average is $28.33 and its 200-day simple moving average is $26.43. Li Auto Inc. Sponsored ADR has a 12-month low of $17.44 and a 12-month high of $33.12. The company has a market capitalization of $27.55 billion, a P/E ratio of 25.11, a P/E/G ratio of 1.11 and a beta of 0.95.

Li Auto (NASDAQ:LI - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). Li Auto had a return on equity of 11.83% and a net margin of 5.60%. The business had revenue of $3.53 billion during the quarter, compared to analysts' expectations of $3.45 billion. During the same period last year, the business earned $1.21 earnings per share. The company's revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, equities analysts anticipate that Li Auto Inc. Sponsored ADR will post 0.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Cfra Research upgraded Li Auto from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 10th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Li Auto presently has a consensus rating of "Hold" and a consensus price target of $32.85.

About Li Auto

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.