Mitsubishi UFJ Asset Management Co. Ltd. Cuts Position in Li Auto Inc. Sponsored ADR $LI

Mitsubishi UFJ Asset Management Co. Ltd. decreased its holdings in Li Auto Inc. Sponsored ADR (NASDAQ:LI) by 26.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 67,937 shares of the company’s stock after selling 24,019 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Li Auto were worth $1,842,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LI. Cerity Partners LLC purchased a new stake in shares of Li Auto in the first quarter valued at approximately $272,000. Ping Capital Management Inc. grew its stake in Li Auto by 86.9% in the 1st quarter. Ping Capital Management Inc. now owns 51,400 shares of the company’s stock valued at $1,295,000 after acquiring an additional 23,900 shares during the period. Kestra Private Wealth Services LLC purchased a new stake in Li Auto in the 1st quarter worth $226,000. Y Intercept Hong Kong Ltd purchased a new stake in Li Auto in the 1st quarter worth $1,460,000. Finally, XTX Topco Ltd acquired a new position in Li Auto during the first quarter worth $974,000. 9.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LI. Weiss Ratings reiterated a “hold (c)” rating on shares of Li Auto in a research report on Wednesday, October 8th. BNP Paribas Exane assumed coverage on shares of Li Auto in a research note on Monday, August 18th. They issued an “underperform” rating and a $18.00 price target on the stock. CLSA upgraded Li Auto to a “strong-buy” rating in a report on Monday, September 22nd. Sanford C. Bernstein cut their price objective on Li Auto from $26.00 to $25.00 and set a “market perform” rating for the company in a research note on Friday, August 29th. Finally, Bank of America cut Li Auto from a “buy” rating to a “neutral” rating and set a $26.00 target price for the company. in a report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $24.94.

Li Auto Stock Performance

NASDAQ:LI opened at $19.93 on Friday. The company has a market cap of $20.87 billion, a P/E ratio of 18.98 and a beta of 1.05. Li Auto Inc. Sponsored ADR has a twelve month low of $19.10 and a twelve month high of $33.12. The company’s 50-day moving average price is $23.18 and its 200-day moving average price is $25.60. The company has a current ratio of 1.73, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

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.