Norges Bank Investment Management recently announced the acquisition of new stake in Li Auto Inc. (NASDAQ:LI). The institutional investor has increased its shareholding in the Consumer Cyclical company by 35.53% to 6.23 million shares with purchase of 1.63 million shares. This fresh investment now brings its stake to 0.71% valued currently at $259.61 million. In addition, Two Sigma Investments LP raised its holdings by 2.17 million to 3.89 million shares. And Two Sigma Advisers LP has lifted its position by 144.36% or 2.18 million shares – to 3.69 million shares.
With over 5.58 million Li Auto Inc. (LI) shares trading Monday and a closing price of $39.68 on the day, the dollar volume was approximately $221.26 million. The shares have shown a positive half year performance of 75.65% and its price on 09/18/23 lost nearly -2.39%. Currently, there are 980.69M common shares owned by the public and among those 881.51M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 41 analysts who have offered their price forecasts for LI have a consensus price objective of $397.72. The analysts have set the share’s price value over the next 12 months at a high of $527.22 and a low of $255.02. The average price target is 25.26% above its recent price level and an upside to the estimated low will see the stock gain 84.44% over that period. But an upside of 92.47% will see the stock hit the forecast high price target while median target price for the stock is $392.18.
The top 3 mutual fund holders in Li Auto Inc. are Government Pension Fund – Global, Fidelity Inv. Trust – Emerging Ma, and T Rowe Price Emerging Markets Sto. Government Pension Fund – Global owns 6.86 million shares of the company’s stock, all valued at over $285.73 million. The company bought an additional 3.17 million shares recently to bring their total holdings to about 0.78% of the shares outstanding. Fidelity Inv. Trust – Emerging Ma sold -0.41 million shares to see its total holdings shrink to 4.13 million shares valued at over $171.87 million and representing 0.47% of the shares outstanding. T Rowe Price Emerging Markets Sto bought 0.6 million shares to bring its total holdings to over 2.04 million shares at a value of $84.78 million. T Rowe Price Emerging Markets Sto now owns shares totaling to 0.23% of the shares outstanding.
Shares of Li Auto Inc. (NASDAQ: LI) opened at $39.255, down -$1.39 from a prior closing price of $40.65. However, the script later moved the day high at 39.88, down -2.39%. The company’s stock has a 5-day price change of 0.30% and 15.32% over the past three months. LI shares are trading 94.51% year to date (YTD), with the 12-month market performance up to 53.74% higher. It has a 12-month low price of $12.52 and touched a high of $47.33 over the same period. LI has an average intraday trading volume of 6.61 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.08%, -1.19%, and 36.82% respectively.
Institutional ownership of Li Auto Inc. (NASDAQ: LI) shares accounts for 29.50% of the company’s 980.69M shares outstanding. Mutual fund holders own 3.46%, while other institutional holders and individual stakeholders account for 6.35% and — respectively.
It has a market capitalization of $42.04B and a beta (3y monthly) value of 0.85. The stock’s trailing 12-month PE ratio is 175.58, while the earnings-per-share (ttm) stands at $0.23. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.53% over the week and 2.99% over the month.
Analysts forecast that Li Auto Inc. (LI) will achieve an EPS of $0.3 for the current quarter, $0.29 for the next quarter and $1.3 for 2024. The lowest estimate earnings-per-share for the quarter is $0.3 while analysts give the company a high EPS estimate of $0.3. Comparatively, EPS for the current quarter was -$0.25 a year ago. Earnings per share for the fiscal year are expected to decrease by -497.60%, and 85.70% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 41 brokerage firm advisors rate Li Auto Inc. (LI) as a “Strong Buy” at a consensus score of 1.70. Specifically, 31 Wall Street analysts polled rate the stock as a buy, while 3 of the 41 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the LI, a number of firms have released research notes about the stock. Jefferies stated their Buy rating for the stock in a research note on November 28, 2022, with the firm’s price target at $20.66.
