EHang (NASDAQ:EH) Stock Price Down 3.6% – Here’s Why

EHang Holdings Limited (NASDAQ:EH) traded down 3.6% on Friday . The company traded as low as $14.96 and last traded at $15.10. 710,492 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 1,306,342 shares. The stock had previously closed at $15.67.

Wall Street Analyst Weigh In

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

EHang Trading Down 1.6 %

The business has a 50 day simple moving average of $15.74 and a two-hundred day simple moving average of $14.57. 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 cap of $979.26 million, a PE ratio of -28.56 and a beta of 0.94.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EH. State Street Corp boosted its holdings in shares of EHang by 1.2% in the 3rd quarter. State Street Corp now owns 1,299,186 shares of the company’s stock valued at $18,370,000 after purchasing an additional 15,781 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of EHang in the 3rd quarter worth $104,000. Point72 Hong Kong Ltd acquired a new position in EHang in the third quarter valued at $118,000. Verition Fund Management LLC purchased a new stake in EHang during the third quarter valued at about $508,000. Finally, Quantbot Technologies LP increased its stake in 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 acquiring an additional 4,101 shares during the last quarter. Institutional investors and hedge funds 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.