EHang (NASDAQ:EH) Shares Down 7.6% – What’s Next?

EHang Holdings Limited (NASDAQ:EH)’s share price was down 7.6% on Friday . The stock traded as low as $20.46 and last traded at $20.51. Approximately 839,000 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 1,647,470 shares. The stock had previously closed at $22.19.

Analysts Set New Price Targets

Separately, CICC Research began coverage on shares of EHang in a research report on Thursday, January 2nd. They set an “outperform” rating for the company.

EHang Stock Down 6.5 %

The stock’s fifty day simple moving average is $21.45 and its 200-day simple moving average is $17.51. The stock has a market cap of $1.32 billion, a P/E ratio of -38.43 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.

Institutional Investors Weigh In On EHang

A number of large investors have recently modified their holdings of the business. Natixis acquired a new position in EHang during the fourth quarter worth about $25,000. Tower Research Capital LLC TRC increased its position in EHang by 247.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,068 shares of the company’s stock worth $33,000 after purchasing an additional 1,472 shares in the last quarter. JPMorgan Chase & Co. bought a new position in EHang in the 4th quarter valued at approximately $79,000. Point72 Asset Management L.P. acquired a new stake in EHang in the third quarter valued at approximately $104,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of EHang during the third quarter worth $118,000. 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.