EHang (NASDAQ:EH) Shares Down 7.6% – What’s Next?

Shares of EHang Holdings Limited (NASDAQ:EH) were down 7.6% during mid-day trading on Friday . The company traded as low as $20.46 and last traded at $20.51. Approximately 839,000 shares were traded during trading, a decline of 49% from the average daily volume of 1,647,470 shares. The stock had previously closed at $22.19.

Analysts Set New Price Targets

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

EHang Stock Performance

The firm has a market cap of $1.32 billion, a P/E ratio of -38.43 and a beta of 0.91. The stock’s 50-day moving average price is $21.45 and its 200 day moving average price is $17.51. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 2.25.

Hedge Funds Weigh In On EHang

A number of large investors have recently modified their holdings of the business. Invesco Ltd. grew its stake in shares of EHang by 2.9% in the fourth quarter. Invesco Ltd. now owns 39,820 shares of the company’s stock valued at $627,000 after buying an additional 1,112 shares in the last quarter. Geode Capital Management LLC grew its position in shares of EHang by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 27,752 shares of the company’s stock valued at $437,000 after acquiring an additional 1,313 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of EHang by 247.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,068 shares of the company’s stock worth $33,000 after purchasing an additional 1,472 shares during the last quarter. Natixis bought a new stake in shares of EHang in the 4th quarter valued at about $25,000. Finally, Quantbot Technologies LP lifted its stake in EHang by 78.2% in the 3rd quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock valued at $132,000 after purchasing an additional 4,101 shares during the last quarter. 94.03% of the stock is currently owned by institutional investors and hedge funds.

EHang Company Profile

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.