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

EHang Holdings Limited (NASDAQ:EH) gapped up prior to trading on Tuesday . The stock had previously closed at $16.68, but opened at $17.51. EHang shares last traded at $17.68, with a volume of 397,388 shares traded.

Wall Street Analyst Weigh In

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

EHang Stock Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 2.12 and a quick ratio of 1.99. The company has a market cap of $1.14 billion, a PE ratio of -31.14 and a beta of 0.99. The business has a 50-day moving average of $14.89 and a 200 day moving average of $14.97.

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

Institutional Inflows and Outflows

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