Hsbc Holdings PLC Sells 204,798 Shares of Li Auto Inc. (NASDAQ:LI)

Hsbc Holdings PLC lowered its position in Li Auto Inc. (NASDAQ:LI - Free Report) by 75.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 65,352 shares of the company's stock after selling 204,798 shares during the quarter. Hsbc Holdings PLC's holdings in Li Auto were worth $1,568,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. RWC Asset Advisors US LLC raised its stake in shares of Li Auto by 20.0% during the 4th quarter. RWC Asset Advisors US LLC now owns 3,181,050 shares of the company's stock valued at $76,313,000 after purchasing an additional 530,390 shares during the period. Barclays PLC increased its position in shares of Li Auto by 41.8% during the third quarter. Barclays PLC now owns 602,028 shares of the company's stock valued at $15,442,000 after buying an additional 177,414 shares during the period. Atomi Financial Group Inc. purchased a new stake in shares of Li Auto in the fourth quarter worth about $271,000. Raymond James Financial Inc. bought a new position in shares of Li Auto in the fourth quarter valued at approximately $544,000. Finally, Pinpoint Asset Management Ltd grew its stake in Li Auto by 594.4% during the fourth quarter. Pinpoint Asset Management Ltd now owns 131,592 shares of the company's stock valued at $3,357,000 after acquiring an additional 112,642 shares in the last quarter. 9.88% of the stock is currently owned by institutional investors.

Li Auto Price Performance

NASDAQ:LI traded up $0.46 during mid-day trading on Wednesday, reaching $26.14. The stock had a trading volume of 1,172,389 shares, compared to its average volume of 6,860,066. The stock has a market capitalization of $27.37 billion, a P/E ratio of 19.37, a P/E/G ratio of 3.27 and a beta of 0.95. The firm has a 50 day moving average price of $25.22 and a two-hundred day moving average price of $24.64. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.64 and a current ratio of 1.76. Li Auto Inc. has a one year low of $17.44 and a one year high of $33.12.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JPMorgan Chase & Co. raised shares of Li Auto from a "neutral" rating to an "overweight" rating and raised their price target for the company from $22.00 to $40.00 in a report on Friday, February 28th. Macquarie lowered Li Auto from an "outperform" rating to a "neutral" rating and set a $27.00 price objective for the company. in a research note on Monday, March 17th. Cfra Research raised Li Auto to a "strong sell" rating in a report on Friday, March 21st. Nomura Securities raised Li Auto to a "hold" rating in a report on Monday, March 17th. Finally, HSBC set a $38.50 target price on shares of Li Auto and gave the company a "buy" rating in a research note on Thursday, March 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $35.73.

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.