Renaissance Technologies LLC Raises Stock Position in Li Auto Inc. (NASDAQ:LI)

Renaissance Technologies LLC raised its position in shares of Li Auto Inc. (NASDAQ:LI - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,800,639 shares of the company's stock after purchasing an additional 99,539 shares during the quarter. Renaissance Technologies LLC owned 0.74% of Li Auto worth $187,137,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LI. Daiwa Securities Group Inc. lifted its position in Li Auto by 16.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the company's stock valued at $84,000 after purchasing an additional 500 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Li Auto by 66.2% during the 4th quarter. Blue Trust Inc. now owns 5,058 shares of the company's stock valued at $130,000 after buying an additional 2,015 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Li Auto during the 4th quarter valued at approximately $129,000. SBI Securities Co. Ltd. purchased a new stake in Li Auto in the 4th quarter worth approximately $191,000. Finally, Ballentine Partners LLC bought a new stake in Li Auto during the 4th quarter worth approximately $223,000. Hedge funds and other institutional investors own 9.88% of the company's stock.

Li Auto Price Performance

Shares of LI stock traded up $0.98 during trading hours on Friday, hitting $23.23. The stock had a trading volume of 9,284,358 shares, compared to its average volume of 7,283,887. The stock's 50-day moving average price is $26.18 and its two-hundred day moving average price is $24.99. Li Auto Inc. has a one year low of $17.44 and a one year high of $33.12. The stock has a market capitalization of $24.32 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 3.27 and a beta of 0.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.64.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on LI shares. Macquarie lowered shares of Li Auto from an "outperform" rating to a "neutral" rating and set a $27.00 price target for the company. in a research report on Monday, March 17th. Cfra Research raised shares of Li Auto to a "strong sell" rating in a report on Friday, March 21st. HSBC set a $38.50 price target on Li Auto and gave the company a "buy" rating in a report on Thursday, March 6th. Nomura Securities raised Li Auto to a "hold" rating in a research note on Monday, March 17th. Finally, JPMorgan Chase & Co. upgraded Li Auto from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $22.00 to $40.00 in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Li Auto presently has a consensus rating of "Hold" and a consensus price target of $35.73.

About Li Auto

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.