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

EHang Holdings Limited (NASDAQ:EH) was the target of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 6,060,000 shares, a decline 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 short-interest ratio is presently 3.2 days.

Analyst Ratings Changes

Several research firms have weighed in on EH. China Renaissance began coverage on EHang in a report on Tuesday, September 24th. They set a “buy” rating on the stock. CICC Research assumed coverage on EHang in a report on Thursday, January 2nd. They issued an “outperform” rating on the stock.

EHang Stock Up 2.8 %

Shares of NASDAQ:EH traded up $0.42 during midday trading on Monday, 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 quick ratio of 2.25, a current ratio of 2.39 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average price is $15.26 and its 200 day moving average price is $14.64. The stock has a market cap of $987.58 million, a PE ratio of -28.80 and a beta of 0.94. EHang has a 1-year low of $9.51 and a 1-year high of $22.98.

Institutional Trading of EHang

Hedge funds and other institutional investors have recently modified their holdings of the stock. Verition Fund Management LLC acquired a new position in EHang during the third quarter worth approximately $508,000. State Street Corp increased its position in EHang by 1.2% during the third quarter. State Street Corp now owns 1,299,186 shares of the company’s stock worth $18,370,000 after buying an additional 15,781 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of EHang in the second quarter valued at approximately $383,000. SteelPeak Wealth LLC grew its position 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 last quarter. Finally, Quantbot Technologies LP grew its position in shares of EHang by 78.2% in the third quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock valued at $132,000 after purchasing 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.