Van ECK Associates Corp Acquires 9,008 Shares of Li Auto Inc. (NASDAQ:LI)

Van ECK Associates Corp lifted its holdings in shares of Li Auto Inc. (NASDAQ:LI) by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 219,995 shares of the company’s stock after purchasing an additional 9,008 shares during the quarter. Van ECK Associates Corp’s holdings in Li Auto were worth $5,955,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Li Auto by 58.7% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company’s stock worth $28,000 after purchasing an additional 573 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Li Auto by 7.0% during the 1st quarter. SG Americas Securities LLC now owns 10,427 shares of the company’s stock worth $316,000 after buying an additional 685 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in Li Auto by 2.6% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 31,000 shares of the company’s stock valued at $554,000 after buying an additional 800 shares during the last quarter. US Bancorp DE raised its holdings in Li Auto by 5.2% in the 1st quarter. US Bancorp DE now owns 19,784 shares of the company’s stock worth $599,000 after acquiring an additional 970 shares during the period. Finally, Blue Trust Inc. lifted its position in Li Auto by 55.9% during the 3rd quarter. Blue Trust Inc. now owns 3,043 shares of the company’s stock worth $78,000 after acquiring an additional 1,091 shares during the last quarter. Institutional investors own 9.88% of the company’s stock.

Li Auto Trading Up 3.6 %

Shares of LI stock opened at $25.61 on Friday. The firm has a fifty day moving average of $24.20 and a 200-day moving average of $22.24. The stock has a market cap of $27.17 billion, a price-to-earnings ratio of 19.12, a P/E/G ratio of 2.36 and a beta of 0.99. Li Auto Inc. has a 52-week low of $17.44 and a 52-week high of $46.44. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.64 and a current ratio of 1.76.

Li Auto (NASDAQ:LI) last posted its earnings results on Wednesday, August 28th. The company reported $0.14 earnings per share for the quarter. The business had revenue of $4.36 billion for the quarter. Li Auto had a net margin of 7.20% and a return on equity of 13.03%. On average, equities research analysts forecast that Li Auto Inc. will post 1.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LI. Citigroup lifted their price objective on Li Auto from $25.50 to $29.60 and gave the stock a “neutral” rating in a research note on Monday, September 30th. Bank of America lifted their price target on Li Auto from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. reduced their price objective on Li Auto from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Barclays boosted their target price on shares of Li Auto from $22.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Macquarie reissued a “neutral” rating and issued a $33.00 price target (up from $25.00) on shares of Li Auto in a report on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Li Auto currently has an average rating of “Moderate Buy” and an average target price of $33.94.

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.