Pinpoint Asset Management Ltd Sells 7,992,050 Shares of Li Auto Inc. (NASDAQ:LI)

Pinpoint Asset Management Ltd reduced its holdings in Li Auto Inc. (NASDAQ:LI) by 99.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,950 shares of the company’s stock after selling 7,992,050 shares during the quarter. Pinpoint Asset Management Ltd’s holdings in Li Auto were worth $486,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of LI. Aspex Management HK Ltd lifted its position in Li Auto by 55.0% in the 3rd quarter. Aspex Management HK Ltd now owns 10,643,926 shares of the company’s stock worth $273,017,000 after buying an additional 3,778,463 shares during the last quarter. FMR LLC lifted its holdings in shares of Li Auto by 422.4% in the 3rd quarter. FMR LLC now owns 4,252,398 shares of the company’s stock worth $109,074,000 after acquiring an additional 3,438,410 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Li Auto by 2,556.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,630,537 shares of the company’s stock valued at $93,503,000 after purchasing an additional 3,493,881 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Li Auto during the 2nd quarter valued at $21,626,000. Finally, American Century Companies Inc. raised its position in Li Auto by 20.5% in the 2nd quarter. American Century Companies Inc. now owns 726,684 shares of the company’s stock worth $12,993,000 after purchasing an additional 123,838 shares during the period. Hedge funds and other institutional investors own 9.88% of the company’s stock.

Li Auto Trading Down 0.4 %

Shares of NASDAQ LI opened at $22.70 on Wednesday. The firm’s 50 day moving average price is $25.34 and its 200-day moving average price is $21.77. Li Auto Inc. has a 52-week low of $17.44 and a 52-week high of $46.44. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.64 and a current ratio of 1.76. The company has a market cap of $24.08 billion, a PE ratio of 16.81, a P/E/G ratio of 2.18 and a beta of 0.94.

Wall Street Analyst Weigh In

LI has been the subject of several recent research reports. Macquarie reiterated a “neutral” rating and issued a $33.00 price objective (up previously from $25.00) on shares of Li Auto in a research report on Friday, October 4th. JPMorgan Chase & Co. dropped their price target on shares of Li Auto from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Bank of America boosted their price objective on shares of Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Barclays increased their target price on shares of Li Auto from $22.00 to $31.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Finally, Citigroup boosted their price target on Li Auto from $25.50 to $29.60 and gave the company a “neutral” rating in a report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Li Auto presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.94.

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.