Mirae Asset Global Investments Co. Ltd. Lowers Stock Holdings in Li Auto Inc. (NASDAQ:LI)

Mirae Asset Global Investments Co. Ltd. decreased its position in shares of Li Auto Inc. (NASDAQ:LI) by 16.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,026,065 shares of the company’s stock after selling 604,472 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Li Auto were worth $76,245,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Blue Trust Inc. lifted its stake in Li Auto by 55.9% in the 3rd quarter. Blue Trust Inc. now owns 3,043 shares of the company’s stock worth $78,000 after purchasing an additional 1,091 shares in the last quarter. BNP Paribas lifted its stake in Li Auto by 300.0% in the 3rd quarter. BNP Paribas now owns 2,000 shares of the company’s stock worth $51,000 after purchasing an additional 1,500 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Li Auto during the 3rd quarter valued at about $39,000. Venturi Wealth Management LLC purchased a new stake in shares of Li Auto during the 3rd quarter valued at about $50,000. Finally, Avior Wealth Management LLC raised its position in shares of Li Auto by 708.5% during the 3rd quarter. Avior Wealth Management LLC now owns 2,385 shares of the company’s stock valued at $61,000 after buying an additional 2,090 shares in the last quarter. Hedge funds and other institutional investors own 9.88% of the company’s stock.

Analyst Ratings Changes

Separately, Barclays upped their target price on shares of Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Four research 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 “Hold” and a consensus target price of $33.94.

Li Auto Stock Performance

Shares of NASDAQ:LI opened at $24.25 on Wednesday. The company has a market capitalization of $25.73 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 1.31 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 firm’s 50-day moving average is $23.26 and its 200 day moving average is $22.87. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13.

Li Auto 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.