Myriad Asset Management US LP Purchases Shares of 393,382 Li Auto Inc. (NASDAQ:LI)

Myriad Asset Management US LP acquired a new stake in Li Auto Inc. (NASDAQ:LI - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 393,382 shares of the company's stock, valued at approximately $9,913,000. Li Auto accounts for 4.2% of Myriad Asset Management US LP's holdings, making the stock its 5th biggest holding.

Several other large investors have also recently added to or reduced their stakes in LI. Daiwa Securities Group Inc. raised its position in Li Auto by 16.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the company's stock valued at $84,000 after acquiring an additional 500 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Li Auto during the 4th quarter valued at $129,000. Blue Trust Inc. raised its holdings in shares of Li Auto by 66.2% during the 4th quarter. Blue Trust Inc. now owns 5,058 shares of the company's stock valued at $130,000 after purchasing an additional 2,015 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Li Auto during the 4th quarter valued at $191,000. Finally, First Trust Advisors LP raised its holdings in shares of Li Auto by 15.2% during the 4th quarter. First Trust Advisors LP now owns 10,014 shares of the company's stock valued at $240,000 after purchasing an additional 1,324 shares in the last quarter. Institutional investors and hedge funds own 9.88% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on LI. Cfra Research upgraded Li Auto to a "strong sell" rating in a report on Friday, March 21st. JPMorgan Chase & Co. raised shares of Li Auto from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $22.00 to $40.00 in a research report on Friday, February 28th. HSBC set a $38.50 price target on shares of Li Auto and gave the company a "buy" rating in a research report on Thursday, March 6th. Macquarie downgraded shares of Li Auto from an "outperform" rating to a "neutral" rating and set a $27.00 target price on the stock. in a report on Monday, March 17th. Finally, Nomura Securities upgraded shares of Li Auto to a "hold" rating in a report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $32.85.

Li Auto Stock Performance

LI traded up $0.25 on Friday, hitting $29.52. 3,248,364 shares of the stock traded hands, compared to its average volume of 6,453,342. Li Auto Inc. has a 52 week low of $17.44 and a 52 week high of $33.12. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $30.91 billion, a PE ratio of 21.87, a P/E/G ratio of 3.27 and a beta of 0.98. The business has a fifty day moving average price of $25.67 and a two-hundred day moving average price of $25.14.

Li Auto (NASDAQ:LI - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). The firm 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 7.20% and a return on equity of 13.03%. The business's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.21 earnings per share. On average, research analysts predict that Li Auto Inc. 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.