Norges Bank Invests $3.81 Million in EHang Holdings Limited (NASDAQ:EH)

Norges Bank purchased a new stake in EHang Holdings Limited (NASDAQ:EH) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 241,910 shares of the company’s stock, valued at approximately $3,809,000. Norges Bank owned approximately 0.38% of EHang at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new stake in shares of EHang in the 4th quarter valued at $79,000. Vanguard Group Inc. increased its position in EHang by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 1,651,515 shares of the company’s stock worth $26,003,000 after purchasing an additional 56,652 shares during the period. SBI Securities Co. Ltd. bought a new stake in EHang during the 4th quarter worth about $431,000. Baader Bank Aktiengesellschaft lifted its position in EHang by 22.8% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 178,000 shares of the company’s stock valued at $2,803,000 after purchasing an additional 33,000 shares during the period. Finally, State Street Corp boosted its stake in shares of EHang by 1.2% in the 3rd quarter. State Street Corp now owns 1,299,186 shares of the company’s stock valued at $18,370,000 after purchasing an additional 15,781 shares during the last quarter. Institutional investors own 94.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Daiwa America raised shares of EHang to a “strong-buy” rating in a research note on Tuesday, April 1st. Daiwa Capital Markets initiated coverage on shares of EHang in a research report on Wednesday, April 2nd. They set a “buy” rating and a $30.00 target price for the company. Finally, CICC Research assumed coverage on EHang in a research note on Thursday, January 2nd. They issued an “outperform” rating on the stock. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, EHang presently has an average rating of “Buy” and a consensus target price of $26.50.

EHang Stock Down 5.3 %

EHang stock opened at $14.78 on Friday. The firm has a market capitalization of $938.62 million, a price-to-earnings ratio of -27.37 and a beta of 0.99. The company’s 50 day simple moving average is $21.63 and its 200 day simple moving average is $17.86. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 2.25. EHang Holdings Limited has a fifty-two week low of $10.40 and a fifty-two week high of $29.76.

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.