Van ECK Associates Corp Sells 85,380 Shares of Li Auto Inc. (NASDAQ:LI)

Van ECK Associates Corp reduced its stake in Li Auto Inc. (NASDAQ:LI - Free Report) by 38.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 134,615 shares of the company's stock after selling 85,380 shares during the period. Van ECK Associates Corp's holdings in Li Auto were worth $3,229,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of LI. Aspex Management HK Ltd boosted its position in shares of Li Auto by 55.0% during the 3rd quarter. Aspex Management HK Ltd now owns 10,643,926 shares of the company's stock valued at $273,017,000 after acquiring an additional 3,778,463 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Li Auto by 2,556.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,630,537 shares of the company's stock valued at $93,503,000 after purchasing an additional 3,493,881 shares in the last quarter. FMR LLC lifted its position in Li Auto by 422.4% during the third quarter. FMR LLC now owns 4,252,398 shares of the company's stock valued at $109,074,000 after purchasing an additional 3,438,410 shares during the last quarter. Ariose Capital Management Ltd purchased a new position in shares of Li Auto in the 3rd quarter worth $18,099,000. Finally, Barclays PLC increased its holdings in shares of Li Auto by 41.8% in the 3rd quarter. Barclays PLC now owns 602,028 shares of the company's stock worth $15,442,000 after buying an additional 177,414 shares during the last quarter. Hedge funds and other institutional investors own 9.88% of the company's stock.

Li Auto Trading Up 4.1 %

Shares of LI stock traded up $1.09 during trading hours on Friday, reaching $27.46. 12,839,706 shares of the stock were exchanged, compared to its average volume of 4,695,115. The firm has a market capitalization of $29.14 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 3.27 and a beta of 0.92. Li Auto Inc. has a 12-month low of $17.44 and a 12-month high of $46.44. The company's 50-day moving average price is $24.00 and its 200-day moving average price is $23.43. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13.

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Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Macquarie raised shares of Li Auto from a "neutral" rating to an "outperform" rating in a report on Thursday, February 6th. Barclays raised their price objective on Li Auto from $22.00 to $31.00 and gave the company an "equal weight" rating in a research note on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $32.77.

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.