Bank of America Corp DE Sells 44,609 Shares of EHang Holdings Limited (NASDAQ:EH)

Bank of America Corp DE cut its stake in shares of EHang Holdings Limited (NASDAQ:EH - Free Report) by 42.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,794 shares of the company's stock after selling 44,609 shares during the quarter. Bank of America Corp DE owned 0.09% of EHang worth $941,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of EHang by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 1,651,515 shares of the company's stock valued at $26,003,000 after purchasing an additional 56,652 shares during the last quarter. Norges Bank bought a new stake in shares of EHang during the 4th quarter valued at approximately $3,809,000. Marshall Wace LLP grew its holdings in shares of EHang by 20.9% during the 4th quarter. Marshall Wace LLP now owns 101,966 shares of the company's stock valued at $1,605,000 after purchasing an additional 17,614 shares during the last quarter. Headlands Technologies LLC grew its holdings in shares of EHang by 2,080.4% during the 4th quarter. Headlands Technologies LLC now owns 57,977 shares of the company's stock valued at $913,000 after purchasing an additional 55,318 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of EHang by 2.9% during the 4th quarter. Invesco Ltd. now owns 39,820 shares of the company's stock valued at $627,000 after purchasing an additional 1,112 shares during the last quarter. 94.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

EHang Stock Up 1.3%

Shares of NASDAQ EH opened at $16.26 on Friday. The company has a market capitalization of $1.17 billion, a P/E ratio of -30.11 and a beta of 1.10. EHang Holdings Limited has a 52-week low of $10.40 and a 52-week high of $29.76. 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's 50 day moving average price is $16.89 and its 200-day moving average price is $18.00.

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.

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