Renaissance Technologies LLC recently announced the acquisition of new stake in Li Auto Inc ADR (NASDAQ:LI). The institutional investor has increased its shareholding in the Consumer Cyclical company by 19.69% to 9.09 million shares with purchase of 1.5 million shares. This fresh investment now brings its stake to 1.03% valued currently at $307.5 million. In addition, Two Sigma Advisers LP raised its holdings by 3.05 million to 6.74 million shares. And Norges Bank Investment Management has lifted its position by 24.01% or 1.21 million shares – to 6.23 million shares.
With over 4.86 million Li Auto Inc ADR (LI) shares trading Tuesday and a closing price of $35.64 on the day, the dollar volume was approximately $173.36 million. The shares have shown a positive half year performance of 11.41% and its price on 12/05/23 lost nearly -0.47%. Currently, there are 824.31M common shares owned by the public and among those 810.89M 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: 38 analysts who have offered their price forecasts for LI have a consensus price objective of $382.43. The analysts have set the share’s price value over the next 12 months at a high of $547.85 and a low of $254.99. The average price target is 33.94% above its recent price level and an upside to the estimated low will see the stock gain 86.02% over that period. But an upside of 93.49% will see the stock hit the forecast high price target while median target price for the stock is $365.09.
The top 3 mutual fund holders in Li Auto Inc ADR 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 $231.94 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 -0.72 million shares to see its total holdings shrink to 3.29 million shares valued at over $111.3 million and representing 0.37% of the shares outstanding. T Rowe Price Emerging Markets Sto bought 0.31 million shares to bring its total holdings to over 2.35 million shares at a value of $79.38 million. T Rowe Price Emerging Markets Sto now owns shares totaling to 0.27% of the shares outstanding.
Shares of Li Auto Inc ADR (NASDAQ: LI) opened at $35.59, down -$0.22 from a prior closing price of $35.81. However, the script later moved the day high at 36.23, down -0.47%. The company’s stock has a 5-day price change of -11.56% and -10.70% over the past three months. LI shares are trading 74.71% year to date (YTD), with the 12-month market performance up to 56.45% higher. It has a 12-month low price of $17.90 and touched a high of $47.33 over the same period. LI has an average intraday trading volume of 5.27 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 -9.22%, -1.95%, and 8.40% respectively.
Institutional ownership of Li Auto Inc ADR (NASDAQ: LI) shares accounts for 11.49% of the company’s 824.31M shares outstanding. Mutual fund holders own 3.22%, while other institutional holders and individual stakeholders account for 7.61% and — respectively.
It has a market capitalization of $29.38B and a beta (3y monthly) value of 0.93. The stock’s trailing 12-month PE ratio is 42.36, while the earnings-per-share (ttm) stands at $0.84. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.31% over the week and 3.14% over the month.
Analysts forecast that Li Auto Inc ADR (LI) will achieve an EPS of $0.36 for the current quarter, $0.41 for the next quarter and $1.52 for 2024. The lowest estimate earnings-per-share for the quarter is $0.35 while analysts give the company a high EPS estimate of $0.37. Comparatively, EPS for the current quarter was $0.04 a year ago. Earnings per share for the fiscal year are expected to increase by 77125.10%, and 49.75% over the next financial year.
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.
