Ping Capital Management Inc. Acquires 23,900 Shares of Li Auto Inc. Sponsored ADR (NASDAQ:LI)

Ping Capital Management Inc. raised its holdings in Li Auto Inc. Sponsored ADR (NASDAQ:LI - Free Report) by 86.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,400 shares of the company's stock after purchasing an additional 23,900 shares during the quarter. Li Auto accounts for 0.5% of Ping Capital Management Inc.'s investment portfolio, making the stock its 23rd largest position. Ping Capital Management Inc.'s holdings in Li Auto were worth $1,295,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Li Auto in the 4th quarter valued at $544,000. Pinpoint Asset Management Ltd lifted 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 buying an additional 112,642 shares during the last quarter. Ariose Capital Management Ltd purchased a new position in shares of Li Auto during the 1st quarter valued at $5,395,000. O Shaughnessy Asset Management LLC lifted 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 buying an additional 13,187 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Li Auto by 38.0% during 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 during the last quarter. Institutional investors own 9.88% of the company's stock.

Analyst Upgrades and Downgrades

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

Li Auto Price Performance

Shares of Li Auto stock traded up $0.44 during trading on Friday, hitting $31.80. 5,867,322 shares of the stock traded hands, compared to its average volume of 6,221,983. The company has a quick ratio of 1.72, a current ratio of 1.87 and a debt-to-equity ratio of 0.12. The stock has a market cap of $33.30 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 1.27 and a beta of 0.95. The firm's fifty day moving average is $28.22 and its 200-day moving average is $26.12. Li Auto Inc. Sponsored ADR has a 52 week low of $17.44 and a 52 week high of $33.12.

Li Auto (NASDAQ:LI - Get Free Report) last posted 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). Li Auto had a return on equity of 11.83% and a net margin of 5.60%. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the previous year, the business earned $1.21 earnings per share. Li Auto's revenue was up 1.1% compared to the same quarter last year. Research analysts expect that Li Auto Inc. Sponsored ADR will post 0.96 EPS for the current fiscal year.

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.