Billionaires Love These 5 EV Stocks

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In this article, we shall discuss how billionaires love these 5 EV stocks. To see our detailed analysis of the global EV sector, go directly and see Billionaires Love These 10 EV Stocks.

5. Li Auto Inc. (NASDAQ:LI)

Hedge Fund Holdings: 28

Notable Billionaires Having Stakes in LI: Noam Gottesman, John Overdeck, Israel Englander

Based in Beijing, Li Auto Inc. (NASDAQ:LI) is a Chinese automotive company which specializes in the design, development, and sale of premium smart electric vehicles. Founded in 2015, the company has a market capitalization of $28.9 billion as of September 3, and is one of the biggest players in the global EV sector. Billionaires have been stacking up on Li Auto Inc. (NASDAQ:LI) shares for quite some time, including the likes of Noam Gottesman of GLG Partners, John Overdeck of Two Sigma Advisors, and Israel Englander of Millennium Management. Of the 28 hedge funds that had stakes in Li Auto Inc. (NASDAQ:LI) in Q2 2022, at least 15 of them were owned by billionaires.

On August 8, CLSA analyst Aaron Li initiated coverage of Li Auto Inc. (NASDAQ:LI) with a Buy rating and a HK$190 price target. According to the analyst, Li Auto (NASDAQ:LI) has achieved remarkable success in China’s family SUV market and he expects the second model launched in Q2 2022, the L9, to continue to attract family consumers. Li Auto Inc. (NASDAQ:LI) delivered more than 11,000 vehicles overall in May, showing a strong supply resilience. The company is expected to deliver about 450,000 units a year in 2022-2024, the analyst predicted in a research note.

On August 15, Li Auto Inc. (NASDAQ:LI) reported their Q2 2022 returns, posting a revenue of $1.3 billion against a consensus of $1.12 billion. Li Auto’s (NASDAQ:LI) deliveries stood at 28,687 in Q2 2022, representing a 63.2% year-over-year increase. Hedge fund sentiment around Li Auto Inc. (NASDAQ:LI) remained virtually the same, with 28 hedge funds long the stock in Q1 and Q2 of 2022. As of Q2 2022, Tiger Global Management LLC is the largest shareholder in the company, owning more than 12.8 million shares worth $490.03 million.

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