Tairen Capital Ltd Invests $8.44 Million in Li Auto Inc. (NASDAQ:LI)

Tairen Capital Ltd acquired a new position in shares of Li Auto Inc. (NASDAQ:LI - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 351,600 shares of the company's stock, valued at approximately $8,435,000. Li Auto makes up about 1.2% of Tairen Capital Ltd's portfolio, making the stock its 22nd biggest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its position in Li Auto by 4.4% during the 4th quarter. Signaturefd LLC now owns 10,184 shares of the company's stock worth $244,000 after acquiring an additional 428 shares during the period. Daiwa Securities Group Inc. lifted its position in Li Auto by 16.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the company's stock valued at $84,000 after purchasing an additional 500 shares during the period. Laird Norton Wetherby Wealth Management LLC boosted its holdings in Li Auto by 2.2% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,174 shares of the company's stock valued at $604,000 after purchasing an additional 547 shares in the last quarter. Amundi increased its position in Li Auto by 1.2% during the 4th quarter. Amundi now owns 78,098 shares of the company's stock worth $1,811,000 after purchasing an additional 888 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of Li Auto by 15.2% during the 4th quarter. First Trust Advisors LP now owns 10,014 shares of the company's stock worth $240,000 after buying an additional 1,324 shares in the last quarter. Institutional investors and hedge funds own 9.88% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on LI. HSBC set a $38.50 price target on shares of Li Auto and gave the company a "buy" rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. raised shares of Li Auto from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $22.00 to $40.00 in a research note on Friday, February 28th. Cfra Research raised shares of Li Auto to a "strong sell" rating in a research report on Friday, March 21st. Nomura Securities raised shares of Li Auto to a "hold" rating in a research report on Monday, March 17th. Finally, Macquarie downgraded Li Auto from an "outperform" rating to a "neutral" rating and set a $27.00 price target for the company. in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $32.85.

Li Auto Stock Performance

Shares of NASDAQ:LI traded up $0.13 on Friday, reaching $28.80. 1,084,413 shares of the company's stock were exchanged, compared to its average volume of 6,518,228. Li Auto Inc. has a fifty-two week low of $17.44 and a fifty-two week high of $33.12. The business's 50-day moving average is $25.13 and its two-hundred day moving average is $24.75. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $30.15 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 3.27 and a beta of 0.95.

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.