EHang (NASDAQ:EH) Shares Down 2.9% – Time to Sell?

EHang Holdings Limited (NASDAQ:EH)’s share price fell 2.9% on Wednesday . The company traded as low as $23.17 and last traded at $23.98. 804,943 shares were traded during mid-day trading, a decline of 52% from the average session volume of 1,675,024 shares. The stock had previously closed at $24.68.

Wall Street Analyst Weigh In

Separately, CICC Research started coverage on EHang in a research note on Thursday, January 2nd. They set an “outperform” rating on the stock.

EHang Stock Down 6.1 %

The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -41.96 and a beta of 0.91. 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’s 50 day moving average is $20.56 and its 200 day moving average is $17.07.

Institutional Investors Weigh In On EHang

Several institutional investors and hedge funds have recently made changes to their positions in EH. Quantbot Technologies LP raised its stake in EHang by 78.2% in the 3rd quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock worth $132,000 after acquiring an additional 4,101 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of EHang in the third quarter valued at about $508,000. Point72 Hong Kong Ltd purchased a new position in shares of EHang in the third quarter worth about $118,000. Point72 Asset Management L.P. acquired a new stake in shares of EHang during the third quarter worth about $104,000. Finally, State Street Corp boosted its position in EHang by 1.2% in the third quarter. State Street Corp now owns 1,299,186 shares of the company’s stock valued at $18,370,000 after buying an additional 15,781 shares during the last quarter. 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.