Mackenzie Financial Corp Invests $378,000 in EHang Holdings Limited (NASDAQ:EH)

Mackenzie Financial Corp bought a new stake in EHang Holdings Limited (NASDAQ:EH - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 24,000 shares of the company's stock, valued at approximately $378,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lighthouse Investment Partners LLC acquired a new position in EHang in the 4th quarter valued at $1,977,000. Cubist Systematic Strategies LLC grew its position in shares of EHang by 151.2% in the fourth quarter. Cubist Systematic Strategies LLC now owns 110,855 shares of the company's stock valued at $1,745,000 after purchasing an additional 66,724 shares during the period. BNP Paribas Financial Markets acquired a new position in EHang in the fourth quarter valued at $428,000. Schonfeld Strategic Advisors LLC acquired a new position in EHang in the fourth quarter valued at $369,000. Finally, Electron Capital Partners LLC purchased a new position in EHang during the fourth quarter worth about $423,000. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

EHang Trading Up 1.3%

EH traded up $0.21 on Friday, reaching $16.26. 929,138 shares of the company's stock were exchanged, compared to its average volume of 1,666,289. EHang Holdings Limited has a twelve month low of $10.40 and a twelve month high of $29.76. The company's 50 day moving average is $16.89 and its 200-day moving average is $18.03. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.25 and a current ratio of 2.39. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -30.11 and a beta of 1.06.

Wall Street Analysts Forecast Growth

Several analysts have commented on EH shares. Daiwa Capital Markets assumed coverage on EHang in a report on Wednesday, April 2nd. They issued a "buy" rating and a $30.00 price target for the company. Deutsche Bank Aktiengesellschaft upgraded shares of EHang from a "hold" rating to a "buy" rating and lowered their target price for the company from $22.00 to $20.00 in a report on Monday, April 14th. Daiwa America raised shares of EHang to a "strong-buy" rating in a research report on Tuesday, April 1st. Jefferies Financial Group assumed coverage on shares of EHang in a report on Monday, May 5th. They issued a "buy" rating and a $30.40 price target on the stock. Finally, Bank of America lowered their price objective on shares of EHang from $26.00 to $24.00 and set a "buy" rating for the company in a research note on Tuesday, May 27th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $25.28.

EHang 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.