EHang (NASDAQ:EH) Stock Price Down 4.9% – What’s Next?

EHang Holdings Limited (NASDAQ:EH)’s share price dropped 4.9% on Monday . The company traded as low as $14.51 and last traded at $14.59. Approximately 776,187 shares changed hands during trading, a decline of 43% from the average daily volume of 1,369,130 shares. The stock had previously closed at $15.34.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EH shares. China Renaissance started coverage on EHang in a research report on Tuesday, September 24th. They set a “buy” rating for the company. UBS Group initiated coverage on shares of EHang in a report on Wednesday, August 28th. They set a “buy” rating and a $22.00 price target for the company.

EHang Trading Down 4.6 %

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 firm has a 50-day moving average of $16.12 and a 200 day moving average of $14.57. The stock has a market capitalization of $885.27 million, a price-to-earnings ratio of -25.81 and a beta of 0.94.

Hedge Funds Weigh In On EHang

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Axim Planning & Wealth raised its position in EHang by 12.5% in the second quarter. Axim Planning & Wealth now owns 4,693,820 shares of the company’s stock worth $63,742,000 after acquiring an additional 520,733 shares in the last quarter. State Street Corp raised 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 worth $18,370,000 after purchasing an additional 15,781 shares in the last quarter. SteelPeak Wealth LLC lifted its stake in EHang by 70.7% during 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 last quarter. Hennion & Walsh Asset Management Inc. grew its position in EHang by 13.1% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 37,519 shares of the company’s stock worth $510,000 after buying an additional 4,353 shares during the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of EHang in the third quarter valued at $508,000. Institutional investors own 94.03% of the company’s stock.

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.