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

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on EH shares. CICC Research started coverage on shares of EHang in a research note on Thursday, January 2nd. They issued an “outperform” rating on the stock. China Renaissance initiated coverage on shares of EHang in a research report on Tuesday, September 24th. They issued a “buy” rating on the stock.

EHang Price Performance

Shares of NASDAQ:EH traded up $0.42 during trading on Friday, reaching $15.55. The stock had a trading volume of 1,358,787 shares, compared to its average volume of 1,468,163. The business has a fifty day moving average price of $15.26 and a 200-day moving average price of $14.64. EHang has a 1-year low of $9.51 and a 1-year high of $22.98. 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 stock has a market cap of $987.58 million, a PE ratio of -28.80 and a beta of 0.94.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in shares of EHang in the 2nd quarter worth $383,000. SteelPeak Wealth LLC grew its holdings in shares of EHang by 70.7% in the third quarter. SteelPeak Wealth LLC now owns 67,110 shares of the company’s stock valued at $949,000 after purchasing an additional 27,805 shares during the period. Quantbot Technologies LP increased its position 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 purchasing an additional 4,101 shares during the last quarter. Verition Fund Management LLC purchased a new position in EHang during the third quarter worth about $508,000. Finally, Point72 Hong Kong Ltd acquired a new position in EHang in the 3rd quarter valued at about $118,000. 94.03% of the stock is currently owned by institutional investors and hedge funds.

EHang Company Profile

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.