Northern Trust Corp Acquires 18,639 Shares of Li Auto Inc. Sponsored ADR $LI

Key Points

• Northern Trust Corp increased its position in Li Auto Inc. by 3.8%, owning a total of 506,790 shares worth $12.77 million as of its latest 13F filing.
• Other notable investors also bolstered their stakes, with Mirae Asset Global Investments increasing its holdings by an impressive 459.3%, now owning approximately 16.92 million shares valued at $426.48 million.
• Li Auto's stock was downgraded by several brokerages recently, with Zacks Research shifting its rating from "hold" to "strong sell," while Macquarie cut its target price significantly from $28.00 to $21.00.

Northern Trust Corp increased its position in shares of Li Auto Inc. Sponsored ADR (NASDAQ:LI - Free Report) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 506,790 shares of the company's stock after acquiring an additional 18,639 shares during the quarter. Northern Trust Corp's holdings in Li Auto were worth $12,771,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Li Auto by 459.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,923,620 shares of the company's stock worth $426,475,000 after buying an additional 13,897,555 shares during the period. LMR Partners LLP bought a new stake in shares of Li Auto in the 4th quarter worth approximately $16,266,000. Myriad Asset Management US LP bought a new stake in shares of Li Auto in the 1st quarter worth approximately $9,913,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Li Auto during the fourth quarter valued at $8,923,000. Finally, Tairen Capital Ltd bought a new stake in shares of Li Auto in the 4th quarter worth $8,435,000. 9.88% of the stock is owned by institutional investors and hedge funds.

Li Auto Stock Down 1.1%

LI traded down $0.26 during trading hours on Wednesday, hitting $23.96. 3,990,767 shares of the company's stock were exchanged, compared to its average volume of 5,770,218. The stock has a market cap of $25.09 billion, a price-to-earnings ratio of 22.82 and a beta of 0.97. The company has a quick ratio of 1.57, a current ratio of 1.73 and a debt-to-equity ratio of 0.03. The stock's 50-day moving average is $25.95 and its two-hundred day moving average is $26.43. Li Auto Inc. Sponsored ADR has a 1-year low of $18.65 and a 1-year high of $33.12.

Analysts Set New Price Targets

A number of research firms have recently commented on LI. Daiwa America raised Li Auto to a "strong-buy" rating in a research note on Wednesday, September 3rd. Macquarie lowered Li Auto from a "neutral" rating to an "underperform" rating and cut their price objective for the stock from $28.00 to $21.00 in a research report on Friday, August 22nd. Dbs Bank downgraded shares of Li Auto from a "moderate buy" rating to a "hold" rating in a research note on Friday, August 29th. Barclays cut their price objective on Li Auto from $31.00 to $24.00 and set an "equal weight" rating for the company in a research report on Thursday, August 28th. Finally, Zacks Research lowered shares of Li Auto from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $26.26.

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.