Northern Trust Corp Increases Position in Li Auto Inc. Sponsored ADR $LI

Northern Trust Corp boosted its holdings in shares of Li Auto Inc. Sponsored ADR (NASDAQ:LI) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 506,790 shares of the company’s stock after acquiring an additional 18,639 shares during the period. Northern Trust Corp’s holdings in Li Auto were worth $12,771,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Li Auto by 459.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,923,620 shares of the company’s stock valued at $426,475,000 after purchasing an additional 13,897,555 shares during the last quarter. American Century Companies Inc. boosted its holdings in Li Auto by 14.4% in the 1st quarter. American Century Companies Inc. now owns 1,150,819 shares of the company’s stock valued at $29,001,000 after purchasing an additional 145,295 shares during the last quarter. LMR Partners LLP acquired a new position in Li Auto in the 4th quarter valued at about $16,266,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Li Auto by 2.5% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 418,992 shares of the company’s stock worth $10,559,000 after acquiring an additional 10,351 shares during the last quarter. Finally, Myriad Asset Management US LP acquired a new position in shares of Li Auto in the 1st quarter worth approximately $9,913,000. Hedge funds and other institutional investors own 9.88% of the company’s stock.

Li Auto Trading Down 0.5%

NASDAQ LI opened at $23.98 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.73 and a quick ratio of 1.57. The firm’s fifty day moving average price is $26.19 and its 200 day moving average price is $26.50. The company has a market capitalization of $25.11 billion, a price-to-earnings ratio of 22.84 and a beta of 0.97. Li Auto Inc. Sponsored ADR has a 12 month low of $18.11 and a 12 month high of $33.12.

Analyst Ratings Changes

Several brokerages have recently commented on LI. Zacks Research lowered shares of Li Auto from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 19th. Macquarie downgraded shares of Li Auto from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $28.00 to $21.00 in a research note on Friday, August 22nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $28.00 target price (down from $33.00) on shares of Li Auto in a research note on Thursday, August 14th. Sanford C. Bernstein dropped their price objective on shares of Li Auto from $26.00 to $25.00 and set a “market perform” rating on the stock in a research report on Friday, August 29th. Finally, Bank of America downgraded shares of Li Auto from a “buy” rating to a “neutral” rating and set a $26.00 price objective on the stock. in a research report on Thursday, August 28th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Li Auto has a consensus rating of “Reduce” and an average target price of $26.26.

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.