EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) Short Interest Up 26.5% in August

Key Points

• Short interest in EHang Holdings Limited has increased by 26.5% in August, reaching a total of 6,150,000 shares, indicating growing bearish sentiment among investors.
• Institutional ownership of EHang is high, with institutional investors holding 94.03% of the company's stock, reflecting strong confidence in the company from major investors.
• Analysts have mixed views on EHang, with a consensus rating of "Buy" and price targets ranging from $24.00 to $26.08, showing a potential upside.

EHang Holdings Limited Unsponsored ADR (NASDAQ:EH - Get Free Report) saw a significant growth in short interest in August. As of August 31st, there was short interest totaling 6,150,000 shares, a growth of 26.5% from the August 15th total of 4,860,000 shares. Approximately 14.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,500,000 shares, the short-interest ratio is presently 4.1 days. Based on an average daily trading volume, of 1,500,000 shares, the short-interest ratio is presently 4.1 days. Approximately 14.2% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

EH has been the topic of a number of research analyst reports. Bank of America cut their price objective 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. JPMorgan Chase & Co. assumed coverage on shares of EHang in a research note on Thursday, August 21st. They issued an "overweight" rating and a $26.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to data from MarketBeat.com, EHang presently has an average rating of "Buy" and an average target price of $26.08.

EHang Price Performance

Shares of NASDAQ:EH traded up $0.92 during trading on Friday, hitting $17.95. 2,230,917 shares of the stock were exchanged, compared to its average volume of 1,930,046. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.50 and a quick ratio of 2.32. EHang has a 1-year low of $11.70 and a 1-year high of $29.76. The company's fifty day simple moving average is $17.45 and its 200-day simple moving average is $17.82.

Institutional Trading of EHang

A number of institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of EHang by 10.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,292 shares of the company's stock valued at $127,000 after purchasing an additional 671 shares in the last quarter. Invesco Ltd. increased its position in EHang by 3.8% in the 1st quarter. Invesco Ltd. now owns 41,317 shares of the company's stock valued at $863,000 after buying an additional 1,497 shares in the last quarter. Legal & General Group Plc increased its position in EHang by 171.7% in the 2nd quarter. Legal & General Group Plc now owns 3,380 shares of the company's stock valued at $59,000 after buying an additional 2,136 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in EHang by 4.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 73,182 shares of the company's stock worth $1,529,000 after purchasing an additional 2,790 shares in the last quarter. Finally, Squarepoint Ops LLC raised its holdings in shares of EHang by 12.9% in the 2nd quarter. Squarepoint Ops LLC now owns 44,378 shares of the company's stock worth $770,000 after purchasing an additional 5,063 shares during the period. 94.03% of the stock is currently owned by institutional investors.

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.