Mirae Asset Global Investments Co. Ltd. Sells 604,472 Shares of Li Auto Inc. (NASDAQ:LI)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of Li Auto Inc. (NASDAQ:LI) by 16.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,026,065 shares of the company’s stock after selling 604,472 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.29% of Li Auto worth $76,245,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Aspex Management HK Ltd lifted its holdings in Li Auto by 55.0% in the third quarter. Aspex Management HK Ltd now owns 10,643,926 shares of the company’s stock worth $273,017,000 after buying an additional 3,778,463 shares during the period. FMR LLC lifted its holdings in Li Auto by 422.4% in the third quarter. FMR LLC now owns 4,252,398 shares of the company’s stock worth $109,074,000 after buying an additional 3,438,410 shares during the period. Ariose Capital Management Ltd purchased a new stake in Li Auto in the third quarter worth about $18,099,000. Barclays PLC lifted its holdings in Li Auto by 41.8% in the third 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 period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Li Auto by 27.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 432,988 shares of the company’s stock worth $11,106,000 after buying an additional 93,904 shares during the period. 9.88% of the stock is owned by institutional investors.

Li Auto Trading Up 6.0 %

Shares of LI stock opened at $24.25 on Wednesday. Li Auto Inc. has a 1 year low of $17.44 and a 1 year high of $46.44. The firm has a fifty day moving average price of $23.26 and a 200-day moving average price of $22.87. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.76 and a quick ratio of 1.64. The company has a market cap of $25.73 billion, a price-to-earnings ratio of 17.96, a PEG ratio of 1.31 and a beta of 0.92.

Analyst Ratings Changes

Separately, Barclays lifted their target price on shares of Li Auto from $22.00 to $31.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $33.94.

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.