EHang (NASDAQ:EH) Shares Gap Up – What’s Next?

EHang Holdings Limited (NASDAQ:EH)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $15.24, but opened at $15.73. EHang shares last traded at $16.09, with a volume of 383,485 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, China Renaissance initiated coverage on EHang in a research report on Tuesday, September 24th. They issued a “buy” rating on the stock.

EHang Price Performance

The company’s 50-day moving average is $15.87 and its 200-day moving average is $14.53. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -29.69 and a beta of 0.94. The company has a current ratio of 2.39, a quick ratio of 2.25 and a debt-to-equity ratio of 0.01.

Institutional Trading of EHang

Several institutional investors and hedge funds have recently modified their holdings of EH. Quantbot Technologies LP lifted its stake in EHang by 78.2% in the 3rd quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock valued at $132,000 after purchasing an additional 4,101 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of EHang in the 3rd quarter valued at $104,000. Point72 Hong Kong Ltd acquired a new stake in shares of EHang during the 3rd quarter valued at $118,000. State Street Corp grew its position in EHang by 1.2% during the 3rd quarter. State Street Corp now owns 1,299,186 shares of the company’s stock worth $18,370,000 after acquiring an additional 15,781 shares during the last quarter. Finally, SteelPeak Wealth LLC increased its holdings in EHang by 70.7% in the 3rd quarter. SteelPeak Wealth LLC now owns 67,110 shares of the company’s stock worth $949,000 after purchasing an additional 27,805 shares in the last quarter. 94.03% of the stock is currently owned by institutional investors.

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.