Li Auto Inc. (NASDAQ:LI) Stock Holdings Reduced by Cresset Asset Management LLC

Cresset Asset Management LLC decreased its holdings in shares of Li Auto Inc. (NASDAQ:LI - Free Report) by 38.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,576 shares of the company's stock after selling 12,289 shares during the period. Cresset Asset Management LLC's holdings in Li Auto were worth $470,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. lifted its holdings in shares of Li Auto by 16.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the company's stock worth $84,000 after purchasing an additional 500 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Li Auto in the fourth quarter valued at $129,000. Blue Trust Inc. boosted its holdings in shares of Li Auto by 66.2% during the fourth quarter. Blue Trust Inc. now owns 5,058 shares of the company's stock valued at $130,000 after acquiring an additional 2,015 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Li Auto during the fourth quarter worth about $191,000. Finally, Ballentine Partners LLC bought a new position in shares of Li Auto during the fourth quarter worth about $223,000. Institutional investors own 9.88% of the company's stock.

Wall Street Analysts Forecast Growth

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

Li Auto Trading Up 0.1%

LI stock traded up $0.03 during mid-day trading on Tuesday, reaching $28.37. 480,724 shares of the stock traded hands, compared to its average volume of 6,716,343. Li Auto Inc. has a 52-week low of $17.44 and a 52-week high of $33.12. The stock's fifty day moving average is $25.08 and its 200-day moving average is $24.67. The company has a market cap of $29.71 billion, a P/E ratio of 21.00, a P/E/G ratio of 3.27 and a beta of 0.95. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13.

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.