HITE Hedge Asset Management LLC Takes $478,000 Position in Li Auto Inc. (NASDAQ:LI)

HITE Hedge Asset Management LLC bought a new position in Li Auto Inc. (NASDAQ:LI - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 26,728 shares of the company's stock, valued at approximately $478,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. grew its position in Li Auto by 58.7% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company's stock worth $28,000 after purchasing an additional 573 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Li Auto by 1,707.4% in the second quarter. Blue Trust Inc. now owns 1,952 shares of the company's stock valued at $35,000 after acquiring 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 valued at approximately $41,000. Barometer Capital Management Inc. bought a new position in shares of Li Auto in the fourth quarter valued at approximately $135,000. Finally, QRG Capital Management Inc. boosted its holdings in shares of Li Auto by 58.5% in the second quarter. QRG Capital Management Inc. now owns 11,731 shares of the company's stock valued at $210,000 after acquiring an additional 4,331 shares in the last quarter. Institutional investors own 9.88% of the company's stock.

Analysts Set New Price Targets

LI has been the subject of several recent analyst reports. Bank of America increased their price objective on shares of Li Auto from $30.00 to $31.00 and gave the company a "buy" rating in a report on Thursday, August 29th. Citigroup increased their price objective on shares of Li Auto from $21.60 to $25.50 and gave the company a "neutral" rating in a report on Tuesday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Li Auto from $21.00 to $19.00 and set a "neutral" rating for the company in a report on Thursday, August 29th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $33.07.

Li Auto Trading Down 3.8 %

Shares of NASDAQ:LI traded down $0.95 during mid-day trading on Wednesday, hitting $23.77. The stock had a trading volume of 7,929,959 shares, compared to its average volume of 7,749,571. 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 cap of $25.22 billion, a PE ratio of 15.83 and a beta of 0.96. Li Auto Inc. has a 12-month low of $17.44 and a 12-month high of $46.44. The company's 50 day moving average is $19.87 and its 200-day moving average is $23.25.

Li Auto (NASDAQ:LI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.14 EPS for the quarter. The business had revenue of $4.36 billion during the quarter. Li Auto had a net margin of 7.65% and a return on equity of 13.70%.

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.