Van ECK Associates Corp Grows Stock Position in Li Auto Inc. (NASDAQ:LI)

Van ECK Associates Corp lifted its stake in Li Auto Inc. (NASDAQ:LI) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 210,987 shares of the company’s stock after buying an additional 8,402 shares during the period. Van ECK Associates Corp’s holdings in Li Auto were worth $3,772,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of LI. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Li Auto by 58.7% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company’s stock worth $28,000 after acquiring an additional 573 shares during the period. Blue Trust Inc. grew its holdings in shares of Li Auto by 1,707.4% during the 2nd quarter. Blue Trust Inc. now owns 1,952 shares of the company’s stock worth $35,000 after acquiring an additional 1,844 shares during the period. Scarborough Advisors LLC purchased a new position in shares of Li Auto during the 4th quarter worth approximately $41,000. Barometer Capital Management Inc. purchased a new position in shares of Li Auto during the 4th quarter worth approximately $135,000. Finally, QRG Capital Management Inc. grew its holdings in shares of Li Auto by 58.5% during the 2nd quarter. QRG Capital Management Inc. now owns 11,731 shares of the company’s stock worth $210,000 after acquiring an additional 4,331 shares during the period. Hedge funds and other institutional investors own 9.88% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Barclays reduced their target price on Li Auto from $25.00 to $22.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 21st. Morgan Stanley dropped their price target on Li Auto from $65.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 21st. JPMorgan Chase & Co. dropped their price target on Li Auto from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Bank of America boosted their price target on Li Auto from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Citigroup cut Li Auto from a “buy” rating to a “neutral” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Li Auto presently has an average rating of “Moderate Buy” and an average target price of $36.36.

Li Auto Stock Performance

LI stock opened at $18.77 on Thursday. The stock has a market capitalization of $19.92 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. Li Auto Inc. has a 12-month low of $17.44 and a 12-month high of $46.44. The company has a current ratio of 1.76, a quick ratio of 1.37 and a debt-to-equity ratio of 0.14. The stock’s 50 day simple moving average is $19.83 and its 200 day simple moving average is $25.12.

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.