Myriad Asset Management US LP Acquires Shares of 393,382 Li Auto Inc. (NASDAQ:LI)

Myriad Asset Management US LP acquired a new stake in Li Auto Inc. (NASDAQ:LI) during the first quarter, HoldingsChannel reports. The fund acquired 393,382 shares of the company’s stock, valued at approximately $9,913,000. Li Auto comprises about 4.2% of Myriad Asset Management US LP’s investment portfolio, making the stock its 5th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LI. Blue Trust Inc. boosted its stake in Li Auto by 66.2% in the fourth quarter. Blue Trust Inc. now owns 5,058 shares of the company’s stock valued at $130,000 after acquiring an additional 2,015 shares during the last quarter. Ping Capital Management Inc. raised its holdings in Li Auto by 161.9% in the fourth quarter. Ping Capital Management Inc. now owns 27,500 shares of the company’s stock worth $660,000 after purchasing an additional 17,000 shares during the period. ABC Arbitrage SA acquired a new stake in Li Auto in the fourth quarter worth $331,000. RWC Asset Advisors US LLC raised its holdings in Li Auto by 20.0% in the fourth quarter. RWC Asset Advisors US LLC now owns 3,181,050 shares of the company’s stock worth $76,313,000 after purchasing an additional 530,390 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in Li Auto in the fourth quarter worth $191,000. 9.88% of the stock is owned by institutional investors.

Li Auto Trading Down 1.8%

Shares of NASDAQ:LI opened at $27.82 on Tuesday. Li Auto Inc. has a 12 month low of $17.44 and a 12 month high of $33.12. 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’s fifty day simple moving average is $25.36 and its 200 day simple moving average is $24.99. The firm has a market cap of $29.13 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 3.27 and a beta of 0.98.

Li Auto (NASDAQ:LI) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). Li Auto had a return on equity of 13.03% and a net margin of 7.20%. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same quarter in the previous year, the business earned $1.21 earnings per share. The company’s revenue was up 1.1% on a year-over-year basis. As a group, research analysts forecast that Li Auto Inc. will post 0.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Cfra Research upgraded shares of Li Auto to a “strong sell” rating in a report on Friday, March 21st. Nomura Securities upgraded shares of Li Auto to a “hold” rating in a report on Monday, March 17th. JPMorgan Chase & Co. upgraded shares of Li Auto from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $22.00 to $40.00 in a report on Friday, February 28th. HSBC set a $38.50 target price on shares of Li Auto and gave the stock a “buy” rating in a report on Thursday, March 6th. Finally, Macquarie lowered shares of Li Auto from an “outperform” rating to a “neutral” rating and set a $27.00 target price on the stock. in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.85.

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.