Point72 Asset Management L.P. Makes New Investment in EHang Holdings Limited (NASDAQ:EH)

Point72 Asset Management L.P. acquired a new stake in shares of EHang Holdings Limited (NASDAQ:EH) in the third quarter, Holdings Channel reports. The firm acquired 7,325 shares of the company’s stock, valued at approximately $104,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Comerica Bank grew its holdings in EHang by 685.1% in the first quarter. Comerica Bank now owns 1,264 shares of the company’s stock worth $26,000 after purchasing an additional 1,103 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in EHang by 13.1% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 37,519 shares of the company’s stock valued at $510,000 after acquiring an additional 4,353 shares during the period. Axim Planning & Wealth raised its position in shares of EHang by 12.5% in the second quarter. Axim Planning & Wealth now owns 4,693,820 shares of the company’s stock worth $63,742,000 after acquiring an additional 520,733 shares during the period. XTX Topco Ltd purchased a new position in EHang during the second quarter worth approximately $383,000. Finally, SteelPeak Wealth LLC grew its stake in EHang by 70.7% in the 3rd quarter. SteelPeak Wealth LLC now owns 67,110 shares of the company’s stock valued at $949,000 after acquiring an additional 27,805 shares during the period. Institutional investors own 94.03% of the company’s stock.

EHang Stock Up 1.2 %

Shares of NASDAQ:EH opened at $15.34 on Friday. The firm has a fifty day moving average price of $16.32 and a 200 day moving average price of $14.62. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 2.25. The stock has a market cap of $974.18 million, a P/E ratio of -28.41 and a beta of 0.94. EHang Holdings Limited has a 1-year low of $9.51 and a 1-year high of $22.98.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EH. UBS Group assumed coverage on shares of EHang in a research note on Wednesday, August 28th. They issued a “buy” rating and a $22.00 price target on the stock. China Renaissance began coverage on shares of EHang in a research note on Tuesday, September 24th. They set a “buy” rating on the 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.