Public Sector Pension Investment Board purchased a new position in shares of Li Auto Inc. (NASDAQ:LI – Get Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 197,034 shares of the company’s stock, valued at approximately $6,325,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in LI. Signaturefd LLC lifted its stake in Li Auto by 52.6% during the 4th quarter. Signaturefd LLC now owns 2,823 shares of the company’s stock worth $91,000 after acquiring an additional 973 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Li Auto by 495.7% during the 4th quarter. Quadrant Capital Group LLC now owns 3,020 shares of the company’s stock worth $97,000 after acquiring an additional 2,513 shares in the last quarter. American International Group Inc. acquired a new stake in Li Auto in the 3rd quarter valued at about $189,000. Panagora Asset Management Inc. raised its position in Li Auto by 10,728.4% in the 3rd quarter. Panagora Asset Management Inc. now owns 8,771 shares of the company’s stock valued at $231,000 after purchasing an additional 8,690 shares in the last quarter. Finally, Wedbush Securities Inc. acquired a new stake in Li Auto in the 4th quarter valued at about $246,000. Institutional investors and hedge funds own 21.74% of the company’s stock.
A number of equities research analysts have issued reports on LI shares. Citigroup reduced their price target on Li Auto from $51.50 to $26.80 in a research report on Wednesday, May 11th. Zacks Investment Research raised Li Auto from a “hold” rating to a “strong-buy” rating and set a $27.00 price target on the stock in a research report on Wednesday. Morgan Stanley cut their target price on Li Auto from $49.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 23rd. Barclays raised their target price on Li Auto from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, February 28th. Finally, HSBC started coverage on Li Auto in a research report on Friday, April 1st. They set a “buy” rating and a $35.00 target price on the stock. Thirteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $40.74.
Li Auto (NASDAQ:LI – Get Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of ($0.56) by $0.79. The firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.51 billion. Li Auto had a net margin of 0.09% and a return on equity of 0.08%. The business’s revenue for the quarter was up 167.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.06) earnings per share. As a group, equities analysts predict that Li Auto Inc. will post -0.33 earnings per share for the current year.
About Li Auto (Get Rating)
Li Auto Inc, through its subsidiaries, designs, develops, manufactures, and sells new energy vehicles in the People's Republic of China. The company provides Li ONE, a six-seat smart electric sport utility vehicle that is equipped with smart vehicle solutions, navigation on ADAS, and automatic emergency breaking functionalities.
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