Rhumbline Advisers Trims Stock Holdings in Li Auto Inc. (NASDAQ:LI)

Rhumbline Advisers lowered its holdings in Li Auto Inc. (NASDAQ:LI) by 32.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,780 shares of the company’s stock after selling 4,246 shares during the quarter. Rhumbline Advisers’ holdings in Li Auto were worth $157,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. grew its stake in Li Auto by 58.7% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company’s stock valued at $28,000 after acquiring an additional 573 shares in the last quarter. Blue Trust Inc. grew its position in shares of Li Auto by 1,707.4% during the 2nd quarter. Blue Trust Inc. now owns 1,952 shares of the company’s stock valued at $35,000 after purchasing an additional 1,844 shares in the last quarter. Scarborough Advisors LLC bought a new position in shares of Li Auto in the fourth quarter worth $41,000. Barometer Capital Management Inc. purchased a new stake in shares of Li Auto in the fourth quarter worth $135,000. Finally, QRG Capital Management Inc. boosted its stake in Li Auto by 58.5% during the second quarter. QRG Capital Management Inc. now owns 11,731 shares of the company’s stock valued at $210,000 after buying an additional 4,331 shares during the period. 9.88% of the stock is currently owned by hedge funds and other institutional investors.

Li Auto Stock Performance

Shares of LI stock opened at $25.78 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 1.76. The company has a market capitalization of $27.35 billion, a price-to-earnings ratio of 17.19 and a beta of 0.96. Li Auto Inc. has a one year low of $17.44 and a one year high of $46.44. The company’s 50-day moving average is $20.17 and its 200 day moving average is $22.97.

Li Auto (NASDAQ:LI) last released its quarterly 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 7.65% and a return on equity of 13.70%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on LI shares. JPMorgan Chase & Co. cut their price objective on Li Auto from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Bank of America increased their price target on shares of Li Auto from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Citigroup lifted their price objective on shares of Li Auto from $21.60 to $25.50 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Li Auto presently has a consensus rating of “Moderate Buy” and an average target price of $33.07.

Li Auto 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.