Connor Clark & Lunn Investment Management Ltd. Has $10.56 Million Stock Holdings in Li Auto Inc. Sponsored ADR (NASDAQ:LI)

Key Points

• Connor Clark & Lunn Investment Management Ltd. has increased its stake in Li Auto by 2.5%, now holding 418,992 shares valued at approximately $10.56 million.
• Li Auto's stock received a rating upgrade from strong sell to hold by Cfra Research, with a consensus target price of $32.85 from analysts.
• In the latest earnings report, Li Auto reported $0.08 EPS, slightly below estimates, but a revenue of $3.53 billion, exceeding expectations with a year-over-year increase of 1.1%.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Li Auto Inc. Sponsored ADR (NASDAQ:LI - Free Report) by 2.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 418,992 shares of the company's stock after buying an additional 10,351 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Li Auto were worth $10,559,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of LI. Mirae Asset Global Investments Co. Ltd. raised its stake in Li Auto by 459.3% in the 1st 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 in the last quarter. LMR Partners LLP acquired a new stake in Li Auto in the 4th quarter worth about $16,266,000. SIH Partners LLLP raised its stake in Li Auto by 4.2% in the 4th quarter. SIH Partners LLLP now owns 501,730 shares of the company's stock worth $12,037,000 after purchasing an additional 20,450 shares in the last quarter. Northern Trust Corp raised its position in shares of Li Auto by 38.0% in the 4th quarter. Northern Trust Corp now owns 488,151 shares of the company's stock valued at $11,711,000 after buying an additional 134,301 shares in the last quarter. Finally, Myriad Asset Management US LP acquired a new position in shares of Li Auto in the 1st quarter valued at approximately $9,913,000. Institutional investors and hedge funds own 9.88% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Cfra Research upgraded shares of 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $32.85.

Li Auto Price Performance

Shares of NASDAQ:LI opened at $24.79 on Monday. The firm has a 50 day moving average of $27.87 and a 200-day moving average of $26.62. The stock has a market capitalization of $25.96 billion, a PE ratio of 23.61, a PEG ratio of 1.41 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. Li Auto Inc. Sponsored ADR has a 12 month low of $17.44 and a 12 month 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 company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.45 billion. Li Auto had a net margin of 5.60% and a return on equity of 11.83%. The company's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. On average, equities research analysts predict that Li Auto Inc. Sponsored ADR will post 0.96 EPS 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.

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