Connor Clark & Lunn Investment Management Ltd. Sells 24,347 Shares of Li Auto Inc. (NASDAQ:LI)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of Li Auto Inc. (NASDAQ:LI) by 5.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 408,641 shares of the company’s stock after selling 24,347 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Li Auto were worth $9,803,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Venturi Wealth Management LLC bought a new stake in Li Auto in the 3rd quarter valued at $50,000. BNP Paribas increased its holdings in Li Auto by 300.0% in the 3rd quarter. BNP Paribas now owns 2,000 shares of the company’s stock valued at $51,000 after acquiring an additional 1,500 shares during the last quarter. Avior Wealth Management LLC increased its holdings in Li Auto by 708.5% in the 3rd quarter. Avior Wealth Management LLC now owns 2,385 shares of the company’s stock valued at $61,000 after acquiring an additional 2,090 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Li Auto by 16.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,500 shares of the company’s stock valued at $84,000 after acquiring an additional 500 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Li Auto by 66.2% in the 4th 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 last quarter. 9.88% of the stock is currently owned by institutional investors.

Li Auto Stock Performance

Shares of NASDAQ:LI opened at $27.46 on Friday. Li Auto Inc. has a 52 week low of $17.44 and a 52 week high of $38.19. The stock has a market capitalization of $29.14 billion, a P/E ratio of 20.34, a PEG ratio of 3.27 and a beta of 0.86. The firm has a fifty day simple moving average of $25.53 and a two-hundred day simple moving average of $24.33. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.13.

Analysts Set New Price Targets

A number of brokerages have issued reports on LI. JPMorgan Chase & Co. upgraded shares of Li Auto from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $22.00 to $40.00 in a report on Friday, February 28th. Macquarie upgraded shares of Li Auto from a “neutral” rating to an “outperform” rating in a report on Thursday, February 6th. Finally, HSBC set a $38.50 price objective on shares of Li Auto and gave the stock a “buy” rating in a research note on Thursday, March 6th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.59.

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.