EHang Holdings Limited (NASDAQ:EH) Short Interest Update

EHang Holdings Limited (NASDAQ:EH) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 5,850,000 shares, a drop of 6.8% from the October 15th total of 6,280,000 shares. Based on an average trading volume of 1,740,000 shares, the days-to-cover ratio is presently 3.4 days.

EHang Price Performance

Shares of EHang stock opened at $15.39 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.99 and a current ratio of 2.12. The stock’s 50-day simple moving average is $15.57 and its 200 day simple moving average is $14.90. EHang has a 52-week low of $9.51 and a 52-week high of $22.98.

EHang (NASDAQ:EH) last posted its earnings results on Thursday, August 22nd. The company reported ($0.14) earnings per share (EPS) for the quarter. EHang had a negative return on equity of 84.09% and a negative net margin of 110.21%. The company had revenue of $14.04 million for the quarter. During the same quarter in the prior year, the company posted ($0.18) EPS. On average, equities research analysts forecast that EHang will post -0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EHang

Hedge funds and other institutional investors have recently modified their holdings of the stock. Comerica Bank increased its holdings in EHang by 685.1% during the 1st quarter. Comerica Bank now owns 1,264 shares of the company’s stock worth $26,000 after acquiring an additional 1,103 shares during the period. Point72 Asset Management L.P. bought a new position in EHang in the 3rd quarter worth about $104,000. Point72 Hong Kong Ltd bought a new stake in shares of EHang during the 3rd quarter valued at about $118,000. Quantbot Technologies LP boosted its position in shares of EHang by 78.2% during the 3rd quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock valued at $132,000 after acquiring an additional 4,101 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of EHang during the first quarter worth about $484,000. 94.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on EH. UBS Group initiated coverage on shares of EHang in a research report on Wednesday, August 28th. They set a “buy” rating and a $22.00 price target for the company. China Renaissance started coverage on EHang in a research note on Tuesday, September 24th. They issued a “buy” rating on the stock.

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.