EHang (NASDAQ:EH) Shares Up 7.3% – What’s Next?

EHang Holdings Limited (NASDAQ:EH) shares were up 7.3% during trading on Wednesday . The stock traded as high as $22.35 and last traded at $22.65. Approximately 424,657 shares changed hands during trading, a decline of 81% from the average daily volume of 2,229,853 shares. The stock had previously closed at $21.11.

Analyst Ratings Changes

Separately, CICC Research began coverage on EHang in a report on Thursday, January 2nd. They issued an “outperform” rating on the stock.

EHang Stock Performance

The company has a quick ratio of 2.25, a current ratio of 2.39 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average of $18.74 and a 200 day moving average of $16.34. The stock has a market cap of $1.47 billion, a PE ratio of -42.91 and a beta of 0.91.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in EHang by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 1,651,515 shares of the company’s stock worth $26,003,000 after purchasing an additional 56,652 shares during the period. State Street Corp raised its position in shares of EHang by 1.2% during the 3rd quarter. State Street Corp now owns 1,299,186 shares of the company’s stock valued at $18,370,000 after buying an additional 15,781 shares during the period. Norges Bank acquired a new position in EHang in the fourth quarter valued at approximately $3,809,000. Baader Bank Aktiengesellschaft lifted its holdings in EHang by 22.8% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 178,000 shares of the company’s stock valued at $2,803,000 after acquiring an additional 33,000 shares during the last quarter. Finally, Lighthouse Investment Partners LLC purchased a new position in EHang in the fourth quarter worth approximately $1,977,000. Institutional investors and hedge funds 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.