Ariose Capital Management Ltd Buys Shares of 705,612 Li Auto Inc. (NASDAQ:LI)

Ariose Capital Management Ltd purchased a new position in shares of Li Auto Inc. (NASDAQ:LI) in the third quarter, Holdings Channel.com reports. The fund purchased 705,612 shares of the company’s stock, valued at approximately $18,099,000. Li Auto makes up about 15.5% of Ariose Capital Management Ltd’s portfolio, making the stock its 4th biggest position.

Several other hedge funds also recently added to or reduced their stakes in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Li Auto in the 2nd quarter worth approximately $21,626,000. SIH Partners LLLP lifted its stake in Li Auto by 508.2% during the first quarter. SIH Partners LLLP now owns 890,900 shares of the company’s stock worth $26,976,000 after purchasing an additional 744,419 shares in the last quarter. FIFTHDELTA Ltd purchased a new position in shares of Li Auto during the first quarter worth $14,816,000. SG Americas Securities LLC grew its stake in shares of Li Auto by 806.4% in the third quarter. SG Americas Securities LLC now owns 167,407 shares of the company’s stock valued at $4,294,000 after buying an additional 148,937 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of 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 buying an additional 123,838 shares during the period. 9.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on LI. Citigroup boosted their price target on shares of 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 increased their target price 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. Macquarie reissued a “neutral” rating and issued a $33.00 price target (up previously from $25.00) on shares of Li Auto in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. cut their price objective on Li Auto from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.66.

Li Auto Trading Up 3.3 %

Shares of NASDAQ:LI opened at $26.09 on Wednesday. The company has a market cap of $27.68 billion, a PE ratio of 17.39, a P/E/G ratio of 2.54 and a beta of 0.98. The company’s 50 day moving average is $22.78 and its two-hundred day moving average is $22.40. Li Auto Inc. has a 52 week low of $17.44 and a 52 week high of $46.44. The company has a current ratio of 1.76, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14.

Li Auto (NASDAQ:LI) last posted its earnings results on Wednesday, August 28th. The company reported $0.14 EPS for the quarter. The firm had revenue of $4.36 billion for the quarter. Li Auto had a return on equity of 13.70% and a net margin of 7.65%. Equities analysts predict that Li Auto Inc. will post 1.04 earnings per share for the current fiscal year.

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.