EHang Holdings Limited (NASDAQ:EH) Short Interest Down 8.4% in January

EHang Holdings Limited (NASDAQ:EH) saw a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 6,300,000 shares, a drop of 8.4% from the January 15th total of 6,880,000 shares. Based on an average daily volume of 1,860,000 shares, the days-to-cover ratio is presently 3.4 days.

Hedge Funds Weigh In On EHang

Several institutional investors and hedge funds have recently made changes to their positions in EH. Natixis bought a new stake in EHang in the fourth quarter valued at about $25,000. Tower Research Capital LLC TRC lifted its stake in EHang by 247.0% during the fourth 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 during the last quarter. JPMorgan Chase & Co. acquired a new position in EHang in the fourth quarter worth $79,000. Point72 Asset Management L.P. bought a new position in shares of EHang in the 3rd quarter worth about $104,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of EHang in the 3rd quarter valued at about $118,000. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

EHang Trading Up 3.1 %

Shares of EH opened at $26.34 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.25 and a current ratio of 2.39. EHang has a one year low of $10.01 and a one year high of $29.76. The stock has a 50-day moving average price of $16.92 and a 200 day moving average price of $15.52. The company has a market capitalization of $1.67 billion, a P/E ratio of -48.78 and a beta of 0.94.

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.