45,500 Shares in Li Auto Inc. (NASDAQ:LI) Purchased by SK Wealth Management LLC

SK Wealth Management LLC bought a new stake in shares of Li Auto Inc. (NASDAQ:LI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 45,500 shares of the company’s stock, valued at approximately $1,160,000. Li Auto comprises approximately 0.5% of SK Wealth Management LLC’s portfolio, making the stock its 27th biggest holding.

A number of other hedge funds also recently bought and sold shares of the business. Van ECK Associates Corp increased its position in Li Auto by 4.1% during the second quarter. Van ECK Associates Corp now owns 210,987 shares of the company’s stock valued at $3,772,000 after acquiring an additional 8,402 shares during the last quarter. American Century Companies Inc. grew its position in Li Auto by 20.5% in the 2nd quarter. American Century Companies Inc. now owns 726,684 shares of the company’s stock valued at $12,993,000 after acquiring an additional 123,838 shares during the last quarter. Hsbc Holdings PLC increased its stake in Li Auto by 8.1% in the second quarter. Hsbc Holdings PLC now owns 344,226 shares of the company’s stock worth $6,154,000 after purchasing an additional 25,800 shares during the period. Pacer Advisors Inc. bought a new stake in shares of Li Auto during the second quarter worth $1,747,000. Finally, Profund Advisors LLC boosted its stake in shares of Li Auto by 28.0% during the second quarter. Profund Advisors LLC now owns 59,950 shares of the company’s stock valued at $1,072,000 after purchasing an additional 13,124 shares during the period. Hedge funds and other institutional investors own 9.88% of the company’s stock.

Li Auto Stock Down 4.5 %

Shares of LI traded down $1.15 during mid-day trading on Monday, hitting $24.34. 4,243,991 shares of the company traded hands, compared to its average volume of 7,686,180. The business has a 50 day moving average of $24.06 and a 200 day moving average of $22.16. Li Auto Inc. has a 1-year low of $17.44 and a 1-year high of $46.44. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $25.82 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 2.13 and a beta of 0.94.

Wall Street Analyst Weigh In

LI has been the topic of a number of research analyst reports. Barclays upped 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 note on Monday, November 4th. Macquarie reiterated a “neutral” rating and set a $33.00 target price (up from $25.00) on shares of Li Auto in a report on Friday, October 4th. Finally, Citigroup increased their price objective on shares of Li Auto from $25.50 to $29.60 and gave the company a “neutral” rating in a research note on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $33.94.

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.