EHang (NASDAQ:EH) Trading 8.5% Higher – What’s Next?

EHang Holdings Limited (NASDAQ:EH) rose 8.5% on Friday . The company traded as high as $15.30 and last traded at $15.21. Approximately 1,000,617 shares traded hands during trading, a decline of 27% from the average daily volume of 1,368,616 shares. The stock had previously closed at $14.02.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. China Renaissance initiated coverage on EHang in a research report on Tuesday, September 24th. They issued a “buy” rating for the company. UBS Group initiated coverage on shares of EHang in a research report on Wednesday, August 28th. They issued a “buy” rating and a $22.00 price objective for the company.

EHang Stock Up 7.7 %

The stock has a market capitalization of $958.94 million, a P/E ratio of -27.96 and a beta of 0.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 2.25. The stock has a fifty day moving average price of $15.99 and a 200 day moving average price of $14.56.

Hedge Funds Weigh In On EHang

A number of hedge funds and other institutional investors have recently bought and sold shares of EH. Point72 Asset Management L.P. purchased a new stake in EHang in the 3rd quarter worth approximately $104,000. Point72 Hong Kong Ltd bought a new stake in shares of EHang during the 3rd quarter valued at about $118,000. Quantbot Technologies LP increased its position in shares of EHang by 78.2% during the third quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock valued at $132,000 after buying an additional 4,101 shares during the period. XTX Topco Ltd purchased a new stake in EHang in the second quarter worth about $383,000. Finally, Verition Fund Management LLC purchased a new stake in EHang in the third quarter worth about $508,000. Hedge funds and other 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.