EHang (NASDAQ:EH) Shares Gap Up – Here’s What Happened

Shares of EHang Holdings Limited (NASDAQ:EH) gapped up before the market opened on Monday . The stock had previously closed at $17.21, but opened at $18.02. EHang shares last traded at $17.71, with a volume of 409,048 shares traded.

Wall Street Analyst Weigh In

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

EHang Trading Up 6.7 %

The business’s 50-day moving average is $14.44 and its two-hundred day moving average is $14.97. The stock has a market capitalization of $1.17 billion, a PE ratio of -31.41 and a beta of 1.01. The company has a quick ratio of 1.99, a current ratio of 2.12 and a debt-to-equity ratio of 0.02.

EHang (NASDAQ:EH) last released its earnings results on Thursday, August 22nd. The company reported ($0.14) EPS for the quarter. EHang had a negative net margin of 110.21% and a negative return on equity of 84.09%. The business had revenue of $14.04 million during the quarter. During the same period in the prior year, the business posted ($0.18) earnings per share. On average, analysts anticipate that EHang Holdings Limited will post -0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EHang

Several institutional investors and hedge funds have recently modified their holdings of EH. Comerica Bank raised its stake in EHang by 685.1% during the first quarter. Comerica Bank now owns 1,264 shares of the company’s stock valued at $26,000 after buying an additional 1,103 shares in the last quarter. Headlands Technologies LLC acquired a new position in EHang during the 1st quarter valued at approximately $228,000. XTX Topco Ltd bought a new position in EHang during the 2nd quarter worth $383,000. Russell Investments Group Ltd. bought a new stake in EHang in the first quarter valued at $484,000. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of EHang by 13.1% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 37,519 shares of the company’s stock valued at $510,000 after acquiring an additional 4,353 shares during the period. 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.