Pinpoint Asset Management Ltd Trims Holdings in Li Auto Inc. Sponsored ADR (NASDAQ:LI)

Key Points

• Pinpoint Asset Management Ltd has reduced its stake in Li Auto Inc. by 25.2%, owning 98,418 shares worth approximately $2.48 million, making it the 26th largest position in their portfolio.
• Li Auto has recently experienced a rating upgrade from "strong sell" to "hold" by Cfra Research, with a consensus target price of $32.85 among analysts.
• In its latest earnings report, Li Auto missed expectations with an EPS of $0.08, while reporting a revenue of $3.53 billion for the quarter, which slightly exceeded analyst predictions.

Pinpoint Asset Management Ltd cut its stake in Li Auto Inc. Sponsored ADR (NASDAQ:LI - Free Report) by 25.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 98,418 shares of the company's stock after selling 33,174 shares during the quarter. Li Auto comprises about 0.4% of Pinpoint Asset Management Ltd's portfolio, making the stock its 26th biggest position. Pinpoint Asset Management Ltd's holdings in Li Auto were worth $2,480,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its position in Li Auto by 9.6% in the first quarter. PNC Financial Services Group Inc. now owns 6,134 shares of the company's stock valued at $155,000 after buying an additional 538 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Li Auto by 9.0% in the 1st quarter. US Bancorp DE now owns 10,255 shares of the company's stock valued at $258,000 after buying an additional 844 shares during the period. Natixis Advisors LLC acquired a new position in shares of Li Auto in the 1st quarter valued at about $262,000. XTX Topco Ltd acquired a new position in shares of Li Auto in the 1st quarter valued at about $974,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Li Auto in the 1st quarter valued at about $1,460,000. 9.88% of the stock is currently owned by hedge funds and other institutional investors.

Li Auto Price Performance

Shares of Li Auto stock traded up $0.14 on Friday, hitting $24.79. The company's stock had a trading volume of 2,349,357 shares, compared to its average volume of 5,943,841. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.72 and a current ratio of 1.87. Li Auto Inc. Sponsored ADR has a 1 year low of $17.44 and a 1 year high of $33.12. The firm has a fifty day moving average price of $27.87 and a 200-day moving average price of $26.56. The company has a market capitalization of $25.96 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 1.40 and a beta of 0.94.

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

Analysts Set New Price Targets

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

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.