Short Interest in EHang Holdings Limited (NASDAQ:EH) Decreases By 6.9%

EHang Holdings Limited (NASDAQ:EH) saw a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 6,060,000 shares, a drop of 6.9% from the December 15th total of 6,510,000 shares. Based on an average daily trading volume, of 1,900,000 shares, the short-interest ratio is currently 3.2 days.

Hedge Funds Weigh In On EHang

A number of hedge funds have recently modified their holdings of EH. Verition Fund Management LLC purchased a new position in shares of EHang during the third quarter valued at approximately $508,000. State Street Corp boosted its holdings in EHang by 1.2% in the third quarter. State Street Corp now owns 1,299,186 shares of the company’s stock valued at $18,370,000 after acquiring an additional 15,781 shares in the last quarter. XTX Topco Ltd purchased a new position in EHang during the 2nd quarter valued at $383,000. SteelPeak Wealth LLC raised its holdings in EHang by 70.7% in the 3rd quarter. SteelPeak Wealth LLC now owns 67,110 shares of the company’s stock worth $949,000 after purchasing an additional 27,805 shares in the last quarter. Finally, Quantbot Technologies LP lifted its position in shares of EHang by 78.2% in the 3rd 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. Hedge funds and other institutional investors own 94.03% of the company’s stock.

EHang Trading Up 2.8 %

Shares of EH traded up $0.42 during trading hours on Friday, hitting $15.55. The company had a trading volume of 1,358,787 shares, compared to its average volume of 1,468,163. EHang has a 52-week low of $9.51 and a 52-week high of $22.98. The company has a quick ratio of 2.25, a current ratio of 2.39 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average price is $15.26 and its 200 day moving average price is $14.63. The firm has a market cap of $987.58 million, a P/E ratio of -28.80 and a beta of 0.94.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EH shares. CICC Research initiated coverage on EHang in a report on Thursday, January 2nd. They set an “outperform” rating for the company. China Renaissance started coverage on shares of EHang in a report on Tuesday, September 24th. They set 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.