Nomura Holdings Inc. reduced its position in shares of Li Auto Inc. (NASDAQ:LI – Get Rating) by 74.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,474 shares of the company’s stock after selling 88,400 shares during the period. Nomura Holdings Inc.’s holdings in Li Auto were worth $702,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in LI. Renaissance Technologies LLC increased its stake in shares of Li Auto by 106.0% in the third quarter. Renaissance Technologies LLC now owns 12,419,600 shares of the company’s stock worth $285,775,000 after buying an additional 6,390,700 shares during the last quarter. Tiger Global Management LLC increased its stake in shares of Li Auto by 34.6% in the third quarter. Tiger Global Management LLC now owns 17,211,345 shares of the company’s stock worth $396,033,000 after buying an additional 4,419,945 shares during the last quarter. Brilliance Asset Management Ltd. increased its stake in shares of Li Auto by 410.0% in the second quarter. Brilliance Asset Management Ltd. now owns 4,441,064 shares of the company’s stock worth $170,137,000 after buying an additional 3,570,232 shares during the last quarter. Two Sigma Advisers LP increased its stake in shares of Li Auto by 152.3% in the third quarter. Two Sigma Advisers LP now owns 3,629,800 shares of the company’s stock worth $83,522,000 after buying an additional 2,190,900 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Li Auto in the first quarter worth $29,649,000. 20.97% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the stock. Citigroup lifted their price target on shares of Li Auto from $48.00 to $51.50 and gave the stock a “buy” rating in a research note on Thursday, February 9th. Jefferies Financial Group started coverage on shares of Li Auto in a research note on Monday, November 28th. They set a “buy” rating and a $20.66 target price for the company. CLSA lowered their target price on shares of Li Auto from $49.00 to $31.00 in a research note on Thursday, December 15th. Barclays boosted their target price on shares of Li Auto from $25.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, February 28th. Finally, HSBC boosted their target price on shares of Li Auto from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, March 3rd. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $37.04.
Li Auto Trading Up 4.3 %
Shares of LI opened at $22.28 on Tuesday. Li Auto Inc. has a 1 year low of $12.52 and a 1 year high of $41.49. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.45 and a quick ratio of 2.20. The firm has a fifty day moving average of $23.67 and a 200-day moving average of $21.95.
Li Auto (NASDAQ:LI – Get Rating) last announced its quarterly earnings results on Friday, December 9th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.01. Li Auto had a negative net margin of 4.30% and a negative return on equity of 4.48%. The company had revenue of $1.31 billion during the quarter. Equities analysts forecast that Li Auto Inc. will post 0.29 earnings per share for the current year.
Li Auto Profile
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.