Bank of America Corp DE Lowers Holdings in EHang Holdings Limited (NASDAQ:EH)

Bank of America Corp DE decreased its position in EHang Holdings Limited (NASDAQ:EH - Free Report) by 42.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 59,794 shares of the company's stock after selling 44,609 shares during the quarter. Bank of America Corp DE owned approximately 0.09% of EHang worth $941,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of EH. Natixis bought a new position in shares of EHang in the fourth quarter worth about $25,000. Tower Research Capital LLC TRC raised its stake in shares of EHang by 247.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,068 shares of the company's stock worth $33,000 after buying an additional 1,472 shares during the period. JPMorgan Chase & Co. bought a new position in shares of EHang in the fourth quarter worth about $79,000. Schonfeld Strategic Advisors LLC bought a new position in shares of EHang in the fourth quarter worth about $369,000. Finally, Electron Capital Partners LLC bought a new position in shares of EHang in the fourth quarter worth about $423,000. Institutional investors own 94.03% of the company's stock.

EHang Stock Up 1.8%

Shares of EH traded up $0.30 during trading hours on Wednesday, hitting $17.29. The company had a trading volume of 1,586,934 shares, compared to its average volume of 1,670,409. The company has a market capitalization of $1.24 billion, a PE ratio of -32.02 and a beta of 1.06. The company has a current ratio of 2.39, a quick ratio of 2.25 and a debt-to-equity ratio of 0.01. EHang Holdings Limited has a one year low of $10.40 and a one year high of $29.76. The company's fifty day moving average price is $16.81 and its two-hundred day moving average price is $18.04.

Wall Street Analysts Forecast Growth

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