HITE Hedge Asset Management LLC Invests $478,000 in Li Auto Inc. (NASDAQ:LI)

HITE Hedge Asset Management LLC bought a new stake in Li Auto Inc. (NASDAQ:LI) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,728 shares of the company’s stock, valued at approximately $478,000.

Other large investors also recently made changes to their positions in the company. Bank of Montreal Can purchased a new stake in shares of Li Auto during the 2nd quarter worth approximately $2,041,000. DRW Securities LLC raised its stake in shares of Li Auto by 251.9% in the second quarter. DRW Securities LLC now owns 68,397 shares of the company’s stock valued at $1,220,000 after buying an additional 48,963 shares during the period. Profund Advisors LLC raised its stake in shares of Li Auto by 28.0% in the second quarter. Profund Advisors LLC now owns 59,950 shares of the company’s stock valued at $1,072,000 after buying an additional 13,124 shares during the period. Pacer Advisors Inc. purchased a new position in shares of Li Auto during the 2nd quarter valued at $1,747,000. Finally, Hsbc Holdings PLC grew its stake in shares of Li Auto by 8.1% during the 2nd quarter. Hsbc Holdings PLC now owns 344,226 shares of the company’s stock worth $6,154,000 after acquiring an additional 25,800 shares during the period. 9.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Bank of America upped their price objective on shares of Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. lowered their target price on shares of Li Auto from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Finally, Citigroup raised their price objective on shares of Li Auto from $21.60 to $25.50 and gave the company a “neutral” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.07.

Li Auto Stock Performance

Li Auto stock opened at $24.72 on Wednesday. The firm has a fifty day simple moving average of $19.80 and a two-hundred day simple moving average of $23.33. Li Auto Inc. has a twelve month low of $17.44 and a twelve month high of $46.44. The company has a market capitalization of $26.23 billion, a PE ratio of 16.48 and a beta of 0.96. The company has a quick ratio of 1.63, a current ratio of 1.76 and a debt-to-equity ratio of 0.14.

Li Auto (NASDAQ:LI) last issued its earnings results on Wednesday, August 28th. The company reported $0.14 earnings per share for the quarter. Li Auto had a return on equity of 13.70% and a net margin of 7.65%. The company had revenue of $4.36 billion during the quarter.

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.