EHang (NASDAQ:EH) Shares Down 2.9% – Should You Sell?

EHang Holdings Limited (NASDAQ:EH)’s stock price dropped 2.9% on Wednesday . The stock traded as low as $23.17 and last traded at $23.98. Approximately 804,943 shares changed hands during trading, a decline of 52% from the average daily volume of 1,675,024 shares. The stock had previously closed at $24.68.

Wall Street Analysts Forecast Growth

Separately, CICC Research assumed coverage on EHang in a report on Thursday, January 2nd. They issued an “outperform” rating for the company.

EHang Price Performance

The company has a current ratio of 2.39, a quick ratio of 2.25 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is $20.21 and its 200-day moving average is $16.98. The stock has a market cap of $1.52 billion, a PE ratio of -44.23 and a beta of 0.91.

Hedge Funds Weigh In On EHang

A number of institutional investors have recently made changes to their positions in EH. Mackenzie Financial Corp acquired a new stake in shares of EHang in the 4th quarter valued at about $378,000. Lighthouse Investment Partners LLC bought a new position in EHang during the 4th quarter worth approximately $1,977,000. Cubist Systematic Strategies LLC grew its position in shares of EHang by 151.2% in the 4th quarter. Cubist Systematic Strategies LLC now owns 110,855 shares of the company’s stock worth $1,745,000 after acquiring an additional 66,724 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of EHang in the 4th quarter valued at approximately $428,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of EHang during the 4th quarter valued at approximately $369,000. 94.03% of the stock is owned by institutional investors and hedge funds.

About EHang

EHang Holdings Limited operates as an autonomous aerial vehicle (AAV) technology platform company in the People's Republic of China, East Asia, West Asia, Europe, and internationally. It designs, develops, manufactures, sells, and operates AAVs, as well as their supporting systems and infrastructure for various industries and applications, including passenger transportation, logistics, smart city management, and aerial media solutions.