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

Mackenzie Financial Corp purchased a new position in EHang Holdings Limited (NASDAQ:EH - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 24,000 shares of the company's stock, valued at approximately $378,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. SBI Securities Co. Ltd. purchased a new position in shares of EHang in the fourth quarter worth about $431,000. Vanguard Group Inc. increased its holdings in EHang by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 1,651,515 shares of the company's stock worth $26,003,000 after buying an additional 56,652 shares during the period. JPMorgan Chase & Co. purchased a new position in EHang during the 4th quarter worth approximately $79,000. Norges Bank acquired a new stake in EHang during the 4th quarter valued at approximately $3,809,000. Finally, Headlands Technologies LLC boosted its holdings in shares of EHang by 2,080.4% in the 4th quarter. Headlands Technologies LLC now owns 57,977 shares of the company's stock valued at $913,000 after acquiring an additional 55,318 shares during the last quarter. 94.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

EHang Price Performance

Shares of NASDAQ:EH traded up $0.21 during midday trading on Friday, reaching $16.26. 928,607 shares of the company's stock traded hands, compared to its average volume of 1,659,170. 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 fifty day simple moving average of $16.96 and a two-hundred day simple moving average of $17.97. The company has a market cap of $1.17 billion, a P/E ratio of -30.11 and a beta of 1.10. EHang Holdings Limited has a 1 year low of $10.40 and a 1 year 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.