Li Auto Inc. (NASDAQ:LI) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its holdings in shares of Li Auto Inc. (NASDAQ:LI) by 1.2% during the 2nd quarter, Holdings Channel reports. The firm owned 7,253,500 shares of the company’s stock after selling 87,700 shares during the period. Renaissance Technologies LLC’s holdings in Li Auto were worth $129,693,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. raised its position in Li Auto by 58.7% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,549 shares of the company’s stock valued at $28,000 after purchasing an additional 573 shares in the last quarter. Blue Trust Inc. lifted its position in Li Auto by 1,707.4% in the second quarter. Blue Trust Inc. now owns 1,952 shares of the company’s stock valued at $35,000 after acquiring an additional 1,844 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in shares of Li Auto in the fourth quarter valued at approximately $41,000. Barometer Capital Management Inc. acquired a new stake in shares of Li Auto during the fourth quarter worth about $135,000. Finally, QRG Capital Management Inc. increased its position in Li Auto by 58.5% in the 2nd quarter. QRG Capital Management Inc. now owns 11,731 shares of the company’s stock valued at $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.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Morgan Stanley cut their price target on Li Auto from $65.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, May 21st. Barclays dropped their target price on Li Auto from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 21st. Citigroup downgraded Li Auto from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 4th. Bank of America boosted their target price on shares of Li Auto from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. cut their price target on shares of Li Auto from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.36.

Li Auto Price Performance

LI opened at $19.12 on Monday. The company has a 50 day moving average of $19.76 and a two-hundred day moving average of $24.13. Li Auto Inc. has a 52-week low of $17.44 and a 52-week high of $46.44. The company has a quick ratio of 1.63, a current ratio of 1.76 and a debt-to-equity ratio of 0.14. The company has a market cap of $20.29 billion, a P/E ratio of 12.75, a P/E/G ratio of 1.78 and a beta of 0.96.

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.