Mirae Asset Global Investments Co. Ltd. Increases Stock Position in Li Auto Inc. Sponsored ADR (NASDAQ:LI)

Mirae Asset Global Investments Co. Ltd. increased its position in Li Auto Inc. Sponsored ADR (NASDAQ:LI - Free Report) by 459.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,923,620 shares of the company's stock after purchasing an additional 13,897,555 shares during the period. Li Auto makes up 1.1% of Mirae Asset Global Investments Co. Ltd.'s investment portfolio, making the stock its 20th largest holding. Mirae Asset Global Investments Co. Ltd. owned about 1.62% of Li Auto worth $426,475,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Raymond James Financial Inc. bought a new position in Li Auto during the fourth quarter valued at about $544,000. Pinpoint Asset Management Ltd grew its position in shares of Li Auto by 594.4% during the 4th quarter. Pinpoint Asset Management Ltd now owns 131,592 shares of the company's stock valued at $3,357,000 after acquiring an additional 112,642 shares during the period. NINE MASTS CAPITAL Ltd purchased a new stake in shares of Li Auto during the 4th quarter worth approximately $6,637,000. O Shaughnessy Asset Management LLC raised its holdings in shares of Li Auto by 91.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 27,558 shares of the company's stock worth $661,000 after purchasing an additional 13,187 shares during the period. Finally, Northern Trust Corp raised its holdings 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 worth $11,711,000 after purchasing an additional 134,301 shares during the period. Institutional investors and hedge funds own 9.88% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on LI shares. HSBC set a $38.50 target price on Li Auto and gave the stock a "buy" rating in a research report on Thursday, March 6th. Nomura Securities raised Li Auto to a "hold" rating in a report on Monday, March 17th. Macquarie cut Li Auto from an "outperform" rating to a "neutral" rating and set a $27.00 price objective on the stock. in a research note on Monday, March 17th. Finally, 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $32.85.

Li Auto Price Performance

LI stock traded down $0.28 during mid-day trading on Tuesday, reaching $26.83. 4,015,726 shares of the company traded hands, compared to its average volume of 6,351,008. The company has a fifty day moving average price of $27.37 and a 200-day moving average price of $25.75. Li Auto Inc. Sponsored ADR has a 52-week low of $17.44 and a 52-week high of $33.12. The company has a market capitalization of $28.09 billion, a P/E ratio of 25.55, a P/E/G ratio of 1.11 and a beta of 0.98. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.87 and a quick ratio of 1.72.

Li Auto (NASDAQ:LI - Get Free Report) last issued 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 net margin of 5.60% and a return on equity of 11.83%. The firm had revenue of $3.53 billion for the quarter, compared to analysts' expectations of $3.45 billion. During the same period in the prior year, the firm posted $1.21 EPS. Li Auto's revenue was up 1.1% on a year-over-year basis. As a group, analysts anticipate that Li Auto Inc. Sponsored ADR will post 0.96 earnings per share for the current 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.