Ovata Capital Management Ltd Sells 11,600 Shares of Li Auto Inc. Sponsored ADR $LI

Ovata Capital Management Ltd decreased its position in Li Auto Inc. Sponsored ADR (NASDAQ:LI) by 45.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,000 shares of the company’s stock after selling 11,600 shares during the period. Ovata Capital Management Ltd’s holdings in Li Auto were worth $382,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in LI. SVB Wealth LLC acquired a new position in Li Auto in the first quarter valued at about $33,000. Summit Securities Group LLC acquired a new position in Li Auto in the first quarter valued at about $50,000. Hantz Financial Services Inc. lifted its stake in Li Auto by 1,196.9% in the second quarter. Hantz Financial Services Inc. now owns 4,150 shares of the company’s stock valued at $113,000 after buying an additional 3,830 shares during the period. Brooklyn Investment Group lifted its stake in Li Auto by 1,077.3% in the first quarter. Brooklyn Investment Group now owns 4,980 shares of the company’s stock valued at $125,000 after buying an additional 4,557 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in Li Auto by 9.6% in the first quarter. PNC Financial Services Group Inc. now owns 6,134 shares of the company’s stock valued at $155,000 after buying an additional 538 shares during the period. Institutional investors and hedge funds own 9.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LI. Daiwa America raised Li Auto to a “strong-buy” rating in a research note on Wednesday, September 3rd. CLSA raised Li Auto to a “strong-buy” rating in a research note on Monday, September 22nd. BNP Paribas Exane assumed coverage on Li Auto in a research report on Monday, August 18th. They set an “underperform” rating and a $18.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Li Auto in a research report on Wednesday, October 8th. Finally, Macquarie lowered Li Auto from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $28.00 to $21.00 in a research report on Friday, August 22nd. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Li Auto currently has a consensus rating of “Hold” and an average price target of $25.79.

Li Auto Trading Up 1.3%

NASDAQ LI opened at $20.07 on Thursday. The stock’s 50-day moving average is $23.61 and its 200-day moving average is $25.77. Li Auto Inc. Sponsored ADR has a one year low of $19.10 and a one year high of $33.12. The firm has a market cap of $21.02 billion, a P/E ratio of 19.11 and a beta of 1.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.73 and a quick ratio of 1.57.

Li Auto Company 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.