Traders Buy High Volume of Put Options on EHang (NASDAQ:EH)

EHang Holdings Limited (NASDAQ:EH) was the target of unusually large options trading activity on Monday. Stock investors acquired 28,194 put options on the company. This represents an increase of 205% compared to the average daily volume of 9,259 put options.

Institutional Trading of EHang

Hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its holdings in shares of EHang by 11.9% in the first quarter. Goldman Sachs Group Inc. now owns 125,781 shares of the company’s stock valued at $2,628,000 after purchasing an additional 13,376 shares during the last quarter. KADENSA CAPITAL Ltd boosted its position in EHang by 585.4% during the first quarter. KADENSA CAPITAL Ltd now owns 759,180 shares of the company’s stock worth $15,859,000 after purchasing an additional 648,412 shares during the period. Electron Capital Partners LLC boosted its position in EHang by 34.0% during the first quarter. Electron Capital Partners LLC now owns 36,000 shares of the company’s stock worth $752,000 after purchasing an additional 9,134 shares during the period. Eschler Asset Management LLP bought a new position in EHang during the first quarter worth $292,000. Finally, Cubist Systematic Strategies LLC boosted its position in EHang by 517.1% during the first quarter. Cubist Systematic Strategies LLC now owns 684,103 shares of the company’s stock worth $14,291,000 after purchasing an additional 573,248 shares during the period. 94.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on EH. Daiwa America raised shares of EHang to a “strong-buy” rating in a report on Tuesday, April 1st. Jefferies Financial Group initiated coverage on shares of EHang in a research report on Monday, May 5th. They set a “buy” rating and a $30.40 target price for the company. Daiwa Capital Markets assumed coverage on shares of EHang in a report on Wednesday, April 2nd. They set a “buy” rating and a $30.00 price objective on the stock. Bank of America reduced their target price on shares of EHang from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft raised shares of EHang from a “hold” rating to a “buy” rating and reduced their target price for the company from $22.00 to $20.00 in a research note on Monday, April 14th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $25.28.

EHang Stock Performance

Shares of EH stock opened at $17.03 on Tuesday. 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 capitalization of $1.22 billion, a P/E ratio of -31.54 and a beta of 1.06. The company’s 50 day moving average price is $16.84 and its two-hundred day moving average price is $18.05. EHang has a 52 week low of $10.40 and a 52 week 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.