EHang (NASDAQ:EH) Stock Price Down 7.6% – Here’s What Happened

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

Wall Street Analyst Weigh In

Separately, CICC Research started coverage on shares of EHang in a research report on Thursday, January 2nd. They set an “outperform” rating on the stock.

EHang Stock Performance

The stock has a market capitalization of $1.31 billion, a PE ratio of -38.11 and a beta of 0.91. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.25 and a current ratio of 2.39. The firm has a 50 day moving average of $21.35 and a 200-day moving average of $17.41.

Institutional Investors Weigh In On EHang

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EH. Invesco Ltd. boosted its position in EHang by 2.9% during the fourth quarter. Invesco Ltd. now owns 39,820 shares of the company’s stock valued at $627,000 after purchasing an additional 1,112 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of EHang by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 27,752 shares of the company’s stock valued at $437,000 after buying an additional 1,313 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of EHang by 247.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,068 shares of the company’s stock valued at $33,000 after buying an additional 1,472 shares in the last quarter. Natixis acquired a new position in EHang in the fourth quarter worth approximately $25,000. Finally, Quantbot Technologies LP raised its position in EHang by 78.2% during the third 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 in the last quarter. Hedge funds and other institutional investors own 94.03% of the company’s 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.