EHang (NASDAQ:EH) Stock Price Down 3.6% – Time to Sell?

EHang Holdings Limited (NASDAQ:EH)’s stock price dropped 3.6% on Friday . The stock traded as low as $14.96 and last traded at $15.10. Approximately 710,492 shares were traded during trading, a decline of 46% from the average daily volume of 1,306,342 shares. The stock had previously closed at $15.67.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. China Renaissance initiated coverage on EHang in a report on Tuesday, September 24th. They issued a “buy” rating for the company. CICC Research began coverage on shares of EHang in a research note on Thursday. They issued an “outperform” rating for the company.

EHang Price Performance

The company has a 50 day moving average price of $15.78 and a 200 day moving average price of $14.56. 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 has a market capitalization of $972.28 million, a P/E ratio of -28.35 and a beta of 0.94.

Institutional Investors Weigh In On EHang

Several hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. acquired a new stake in EHang in the 3rd quarter worth about $104,000. Point72 Hong Kong Ltd bought a new position in shares of EHang during the third quarter worth approximately $118,000. Quantbot Technologies LP increased its holdings in shares of EHang by 78.2% during the third quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock worth $132,000 after purchasing an additional 4,101 shares during the period. XTX Topco Ltd acquired a new stake in shares of EHang in the second quarter valued at approximately $383,000. Finally, Verition Fund Management LLC bought a new stake in shares of EHang in the third quarter valued at approximately $508,000. 94.03% of the stock is currently 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.