Van ECK Associates Corp Sells 23,788 Shares of Li Auto Inc. (NASDAQ:LI)

Van ECK Associates Corp lowered its position in shares of Li Auto Inc. (NASDAQ:LI) by 10.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 212,674 shares of the company’s stock after selling 23,788 shares during the quarter. Van ECK Associates Corp’s holdings in Li Auto were worth $7,960,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Concourse Financial Group Securities Inc. raised its holdings in shares of Li Auto by 186.0% during the third quarter. Concourse Financial Group Securities Inc. now owns 1,430 shares of the company’s stock valued at $51,000 after purchasing an additional 930 shares during the period. Rakuten Securities Inc. acquired a new position in shares of Li Auto during the fourth quarter valued at about $57,000. Employees Retirement System of Texas acquired a new position in shares of Li Auto during the third quarter valued at about $130,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Li Auto during the third quarter valued at about $215,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of Li Auto in the 3rd quarter worth about $217,000. Institutional investors and hedge funds own 9.88% of the company’s stock.

Analyst Upgrades and Downgrades

LI has been the topic of a number of analyst reports. Macquarie initiated coverage on shares of Li Auto in a report on Monday, April 15th. They issued an “outperform” rating and a $40.00 target price on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Li Auto from a “hold” rating to a “buy” rating and lowered their target price for the stock from $45.00 to $41.00 in a report on Tuesday, February 6th. Barclays lowered shares of Li Auto from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $39.00 to $25.00 in a report on Thursday, April 25th. Bank of America lowered their target price on shares of Li Auto from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Finally, Citigroup lowered their target price on shares of Li Auto from $57.30 to $48.50 and set a “buy” rating on the stock in a report on Friday, March 22nd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Li Auto currently has a consensus rating of “Moderate Buy” and an average price target of $45.36.

Li Auto Trading Down 3.4 %

NASDAQ:LI opened at $28.00 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.48 and a current ratio of 1.57. The firm has a market cap of $29.71 billion, a price-to-earnings ratio of 18.06 and a beta of 1.10. Li Auto Inc. has a 52 week low of $23.04 and a 52 week high of $47.33. The firm has a 50-day moving average price of $32.49 and a two-hundred day moving average price of $33.53.

Li Auto (NASDAQ:LI) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.49 EPS for the quarter. The firm had revenue of $5.88 billion during the quarter. Li Auto had a net margin of 9.44% and a return on equity of 18.37%. On average, equities analysts expect that Li Auto Inc. will post 1.97 earnings per share for the current fiscal year.

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.