EHang (NASDAQ:EH) Trading 8.9% Higher – Here’s What Happened

EHang Holdings Limited (NASDAQ:EH) was up 8.9% on Monday . The company traded as high as $15.43 and last traded at $15.31. Approximately 1,126,280 shares traded hands during trading, a decline of 18% from the average daily volume of 1,380,763 shares. The stock had previously closed at $14.06.

Analyst Ratings Changes

EH has been the topic of a number of research analyst reports. China Renaissance initiated coverage on EHang in a research note on Tuesday, September 24th. They issued a “buy” rating on the stock. UBS Group began coverage on shares of EHang in a report on Wednesday, August 28th. They issued a “buy” rating and a $22.00 price target on the stock.

EHang Stock Performance

The company has a market cap of $951.95 million, a P/E ratio of -27.78 and a beta of 0.99. The stock’s 50-day moving average price is $15.89 and its 200-day moving average price is $14.76. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 2.25.

Hedge Funds Weigh In On EHang

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank raised its position in shares of EHang by 685.1% in the 1st quarter. Comerica Bank now owns 1,264 shares of the company’s stock worth $26,000 after acquiring an additional 1,103 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of EHang during the 3rd quarter worth approximately $104,000. Point72 Hong Kong Ltd acquired a new position in shares of EHang during the third quarter valued at about $118,000. Quantbot Technologies LP boosted its position in shares of EHang by 78.2% during the 3rd quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock worth $132,000 after purchasing an additional 4,101 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in EHang in the 2nd quarter valued at about $383,000. Institutional investors own 94.03% of the company’s stock.

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.