Pinpoint Asset Management Ltd Increases Stock Position in Li Auto Inc. (NASDAQ:LI)

Pinpoint Asset Management Ltd grew its holdings in Li Auto Inc. (NASDAQ:LI - Free Report) by 594.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 131,592 shares of the company's stock after acquiring an additional 112,642 shares during the quarter. Li Auto comprises 0.6% of Pinpoint Asset Management Ltd's investment portfolio, making the stock its 25th biggest holding. Pinpoint Asset Management Ltd's holdings in Li Auto were worth $3,357,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LI. FMR LLC lifted its position in Li Auto by 422.4% in the third quarter. FMR LLC now owns 4,252,398 shares of the company's stock valued at $109,074,000 after acquiring an additional 3,438,410 shares during the last quarter. Flow Traders U.S. LLC purchased a new stake in shares of Li Auto in the 3rd quarter valued at about $262,000. Quantinno Capital Management LP acquired a new stake in shares of Li Auto in the 3rd quarter valued at about $343,000. XTX Topco Ltd acquired a new position in Li Auto during the third quarter worth approximately $1,153,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Li Auto in the third quarter valued at approximately $903,000. Institutional investors and hedge funds own 9.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Cfra Research upgraded shares of Li Auto to a "strong sell" rating in a research report on Friday, March 21st. JPMorgan Chase & Co. upgraded shares of Li Auto from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $22.00 to $40.00 in a research note on Friday, February 28th. Macquarie downgraded shares of Li Auto from an "outperform" rating to a "neutral" rating and set a $27.00 target price for the company. in a research note on Monday, March 17th. Nomura Securities upgraded Li Auto to a "hold" rating in a research report on Monday, March 17th. Finally, HSBC set a $38.50 price objective on Li Auto and gave the stock a "buy" rating in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $35.73.

Li Auto Stock Performance

Shares of LI stock traded up $0.29 during trading hours on Wednesday, reaching $20.08. 3,675,665 shares of the company's stock were exchanged, compared to its average volume of 7,206,751. Li Auto Inc. has a 1 year low of $17.44 and a 1 year high of $33.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.64. The company's 50 day moving average is $26.32 and its two-hundred day moving average is $25.05. The company has a market cap of $21.02 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 3.27 and a beta of 0.94.

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.