Renaissance Technologies LLC Cuts Stock Position in Li Auto Inc. (NASDAQ:LI)

Renaissance Technologies LLC reduced its position in Li Auto Inc. (NASDAQ:LI) by 1.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,253,500 shares of the company’s stock after selling 87,700 shares during the period. Renaissance Technologies LLC owned 0.68% of Li Auto worth $129,693,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Li Auto in the 2nd quarter valued at approximately $21,626,000. SIH Partners LLLP raised its stake in Li Auto by 508.2% in the 1st quarter. SIH Partners LLLP now owns 890,900 shares of the company’s stock worth $26,976,000 after acquiring an additional 744,419 shares during the last quarter. Franchise Capital Ltd lifted its position in Li Auto by 163.2% during the 4th quarter. Franchise Capital Ltd now owns 975,250 shares of the company’s stock worth $36,504,000 after acquiring an additional 604,773 shares during the period. FIFTHDELTA Ltd acquired a new position in shares of Li Auto in the first quarter valued at about $14,816,000. Finally, OLD Mission Capital LLC acquired a new stake in shares of Li Auto during the fourth quarter worth about $17,696,000. Hedge funds and other institutional investors own 9.88% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Li Auto from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Citigroup lowered Li Auto from a “buy” rating to a “neutral” rating in a report on Wednesday, September 4th. Morgan Stanley lowered their price objective 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. Bank of America boosted their target price on shares of Li Auto from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Barclays dropped their price target on shares of 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. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Li Auto currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.36.

Li Auto Stock Up 1.3 %

Shares of LI opened at $19.12 on Monday. 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 stock has a fifty day simple moving average of $19.76 and a two-hundred day simple moving average of $24.13. The company has a market capitalization of $20.29 billion, a PE ratio of 12.75, a price-to-earnings-growth 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.