Laurion Capital Management LP lifted its stake in shares of Li Auto Inc. (NASDAQ:LI) by 723.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,394 shares of the company’s stock after purchasing an additional 72,394 shares during the quarter. Laurion Capital Management LP’s holdings in Li Auto were worth $2,879,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. US Bancorp DE raised its position in Li Auto by 1,031.7% in the second quarter. US Bancorp DE now owns 713 shares of the company’s stock worth $25,000 after acquiring an additional 650 shares in the last quarter. SRS Capital Advisors Inc. acquired a new stake in Li Auto during the 2nd quarter worth about $35,000. PNC Financial Services Group Inc. raised its holdings in Li Auto by 44.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,512 shares of the company’s stock worth $53,000 after buying an additional 468 shares during the period. Credit Agricole S A raised its holdings in Li Auto by 295.8% during the 2nd quarter. Credit Agricole S A now owns 1,979 shares of the company’s stock worth $69,000 after buying an additional 1,479 shares during the period. Finally, Vestor Capital LLC purchased a new position in Li Auto during the 1st quarter valued at about $69,000. Hedge funds and other institutional investors own 16.41% of the company’s stock.
Several research firms have weighed in on LI. Zacks Investment Research cut Li Auto from a “hold” rating to a “sell” rating in a research note on Wednesday, August 11th. Bank of America boosted their price target on Li Auto from $39.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, August 31st. The Goldman Sachs Group initiated coverage on Li Auto in a research note on Thursday, August 12th. They issued a “conviction-buy” rating for the company. Nomura Instinet initiated coverage on Li Auto in a research note on Thursday. They issued a “buy” rating and a $43.40 price target for the company. Finally, Nomura initiated coverage on Li Auto in a research note on Thursday. They issued a “buy” rating and a $43.40 price target for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $41.92.
Li Auto Company Profile
Li Auto Inc, through its subsidiaries, designs, develops, manufactures, and sells smart electric sport utility vehicles (SUVs) in China. It offers Li ONE, a six-seat electric SUV that equipped with a range of extension system and smart vehicle solutions. The company was formerly known as Leading Ideal Inc and changed its name to Li Auto Inc in July 2020.
Featured Article: What is a blue-chip stock?
Receive News & Ratings for Li Auto Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Li Auto and related companies with MarketBeat.com's FREE daily email newsletter.