Short Interest in EHang Holdings Limited (NASDAQ:EH) Drops By 6.8%

EHang Holdings Limited (NASDAQ:EH) saw a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 5,850,000 shares, a decrease of 6.8% from the October 15th total of 6,280,000 shares. Based on an average daily trading volume, of 1,740,000 shares, the days-to-cover ratio is presently 3.4 days.

Wall Street Analyst Weigh In

Several research analysts recently commented on EH shares. China Renaissance assumed coverage on EHang in a research note on Tuesday, September 24th. They set a “buy” rating for the company. UBS Group initiated coverage on shares of EHang in a research note on Wednesday, August 28th. They set a “buy” rating and a $22.00 price target on the stock.

EHang Price Performance

Shares of NASDAQ EH opened at $15.67 on Wednesday. The company’s fifty day moving average is $15.65 and its two-hundred day moving average is $14.88. The firm has a market capitalization of $995.20 million, a P/E ratio of -27.02 and a beta of 0.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.99 and a current ratio of 2.12. EHang has a one year low of $9.51 and a one year high of $22.98.

EHang (NASDAQ:EH) last announced its earnings results on Thursday, August 22nd. The company reported ($0.14) earnings per share (EPS) for the quarter. EHang had a negative return on equity of 84.09% and a negative net margin of 110.21%. The business had revenue of $14.04 million for the quarter. During the same period in the prior year, the firm posted ($0.18) EPS. Analysts forecast that EHang will post -0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Comerica Bank boosted its holdings in EHang by 685.1% in the 1st quarter. Comerica Bank now owns 1,264 shares of the company’s stock worth $26,000 after acquiring an additional 1,103 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of EHang in the 3rd quarter worth approximately $104,000. Point72 Hong Kong Ltd acquired a new position in EHang during the 3rd quarter valued at about $118,000. Quantbot Technologies LP increased its holdings in shares of EHang by 78.2% during 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 period. Finally, XTX Topco Ltd bought a new stake in EHang during the second quarter worth approximately $383,000. Hedge funds and other 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.