PNC Financial Services Group Inc. Raises Stock Position in Li Auto Inc. (NASDAQ:LI)

PNC Financial Services Group Inc. boosted its holdings in Li Auto Inc. (NASDAQ:LI) by 44.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,512 shares of the company’s stock after purchasing an additional 468 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Li Auto were worth $53,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. US Bancorp DE increased its stake in Li Auto by 1,031.7% in the 2nd quarter. US Bancorp DE now owns 713 shares of the company’s stock worth $25,000 after buying an additional 650 shares in the last quarter. SRS Capital Advisors Inc. purchased a new stake in Li Auto in the 2nd quarter worth $35,000. Vestor Capital LLC purchased a new stake in Li Auto in the 1st quarter worth $69,000. Quantbot Technologies LP purchased a new position in shares of Li Auto during the first quarter valued at about $72,000. Finally, Exchange Traded Concepts LLC grew its position in shares of Li Auto by 19.9% during the second quarter. Exchange Traded Concepts LLC now owns 3,175 shares of the company’s stock valued at $111,000 after purchasing an additional 528 shares in the last quarter. Institutional investors and hedge funds own 16.41% of the company’s stock.

Shares of NASDAQ:LI opened at $27.31 on Thursday. The company has a current ratio of 5.17, a quick ratio of 5.02 and a debt-to-equity ratio of 0.24. The company has a market cap of $24.71 billion, a price-to-earnings ratio of -170.69 and a beta of 1.82. Li Auto Inc. has a 12 month low of $15.02 and a 12 month high of $47.70. The company has a 50-day moving average price of $30.09 and a 200 day moving average price of $26.54.

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on Li Auto in a research report on Thursday, August 12th. They set a “conviction-buy” rating for the company. Needham & Company LLC assumed coverage on Li Auto in a research report on Tuesday, August 31st. They set a “buy” rating and a $37.00 price objective for the company. cut their price objective on Li Auto from $45.60 to $43.60 and set a “buy” rating for the company in a research report on Tuesday, June 1st. Citigroup cut their price objective on Li Auto from $48.10 to $42.50 and set a “buy” rating for the company in a research report on Tuesday, August 17th. Finally, Zacks Investment Research lowered Li Auto from a “hold” rating to a “sell” rating in a research report on Wednesday, August 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $41.65.

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.

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Institutional Ownership by Quarter for Li Auto (NASDAQ:LI)

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