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

EHang Holdings Limited (NASDAQ:EH) was the target of a large drop in short interest in December. As of December 31st, there was short interest totalling 6,060,000 shares, a drop 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 presently 3.2 days.

Institutional Investors Weigh In On EHang

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. purchased a new position in EHang in the third quarter worth about $104,000. Point72 Hong Kong Ltd purchased a new position in shares of EHang in the third quarter worth approximately $118,000. Quantbot Technologies LP boosted its holdings in shares of EHang by 78.2% in the third quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock worth $132,000 after buying an additional 4,101 shares during the last quarter. XTX Topco Ltd bought a new stake in EHang during the second quarter valued at approximately $383,000. Finally, Verition Fund Management LLC purchased a new stake in EHang during the third quarter valued at approximately $508,000. Hedge funds and other institutional investors own 94.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. China Renaissance assumed coverage on shares of EHang in a research report on Tuesday, September 24th. They set a “buy” rating for the company. CICC Research began coverage on EHang in a report on Thursday, January 2nd. They issued an “outperform” rating for the company.

EHang Stock Performance

Shares of EH stock traded up $0.42 during trading hours on Friday, reaching $15.55. The company had a trading volume of 1,358,787 shares, compared to its average volume of 1,468,163. 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 business has a fifty day moving average price of $15.26 and a 200-day moving average price of $14.63. EHang has a one year low of $9.51 and a one year high of $22.98. The firm has a market cap of $987.58 million, a PE ratio of -28.80 and a beta of 0.94.

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.