EHang Holdings Limited (NASDAQ:EH) Sees Large Decrease in Short Interest

EHang Holdings Limited (NASDAQ:EH) was the recipient of a significant drop in short interest in February. As of February 28th, there was short interest totalling 5,090,000 shares, a drop of 17.1% from the February 13th total of 6,140,000 shares. Based on an average daily trading volume, of 2,030,000 shares, the short-interest ratio is currently 2.5 days. Currently, 13.3% of the shares of the stock are sold short.

EHang Trading Down 2.3 %

EH stock traded down $0.56 during trading on Wednesday, reaching $24.12. 1,524,637 shares of the stock were exchanged, compared to its average volume of 1,677,616. 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 business has a 50 day moving average price of $20.21 and a 200-day moving average price of $16.98. EHang has a 1 year low of $10.40 and a 1 year high of $29.76. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -44.67 and a beta of 0.91.

Institutional Investors Weigh In On EHang

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Natixis acquired a new position in shares of EHang in the fourth quarter valued at approximately $25,000. Tower Research Capital LLC TRC grew its holdings in shares of EHang by 247.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,068 shares of the company’s stock valued at $33,000 after purchasing an additional 1,472 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of EHang in the fourth quarter valued at approximately $79,000. Point72 Asset Management L.P. acquired a new position in shares of EHang in the third quarter valued at approximately $104,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of EHang in the third quarter valued at approximately $118,000. 94.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, CICC Research assumed coverage on shares of EHang in a research note on Thursday, January 2nd. They issued an “outperform” 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.