Norges Bank Purchases Shares of 241,910 EHang Holdings Limited (NASDAQ:EH)

Norges Bank purchased a new stake in shares of EHang Holdings Limited (NASDAQ:EH - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 241,910 shares of the company's stock, valued at approximately $3,809,000. Norges Bank owned 0.38% of EHang as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in EH. JPMorgan Chase & Co. bought a new stake in shares of EHang during the 4th quarter valued at $79,000. Point72 Asset Management L.P. bought a new stake in EHang in the third quarter valued at about $104,000. SBI Securities Co. Ltd. acquired a new position in EHang in the fourth quarter valued at about $431,000. Verition Fund Management LLC bought a new position in EHang during the third quarter worth about $508,000. Finally, Baader Bank Aktiengesellschaft grew its position in shares of EHang by 22.8% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 178,000 shares of the company's stock worth $2,803,000 after buying an additional 33,000 shares during the period. Institutional investors own 94.03% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on EH shares. Deutsche Bank Aktiengesellschaft upgraded shares of EHang from a "hold" rating to a "buy" rating and cut their price target for the company from $22.00 to $20.00 in a research report on Monday. CICC Research began coverage on shares of EHang in a report on Thursday, January 2nd. They issued an "outperform" rating for the company. Daiwa America raised EHang to a "strong-buy" rating in a research note on Tuesday, April 1st. Finally, Daiwa Capital Markets began coverage on EHang in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $30.00 target price for the company. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, EHang presently has an average rating of "Buy" and a consensus target price of $24.88.

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EHang Stock Up 8.6 %

Shares of NASDAQ:EH traded up $1.24 during midday trading on Monday, reaching $15.68. 2,096,028 shares of the company were exchanged, compared to its average volume of 1,665,658. The firm has a market cap of $995.77 million, a PE ratio of -29.04 and a beta of 0.99. The company has a quick ratio of 2.25, a current ratio of 2.39 and a debt-to-equity ratio of 0.01. EHang Holdings Limited has a fifty-two week low of $10.40 and a fifty-two week high of $29.76. The stock has a fifty day simple moving average of $21.58 and a two-hundred day simple moving average of $17.90.

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.