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

EHang Holdings Limited (NASDAQ:EH)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $19.24, but opened at $20.08. EHang shares last traded at $20.10, with a volume of 704,889 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on EH shares. Bank of America started coverage on EHang in a report on Wednesday. They issued a “buy” rating and a $26.00 price target for the company. Deutsche Bank Aktiengesellschaft raised EHang from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $22.00 to $20.00 in a research report on Monday, April 14th. Daiwa Capital Markets started coverage on EHang in a research report on Wednesday, April 2nd. They set a “buy” rating and a $30.00 price objective for the company. Jefferies Financial Group started coverage on EHang in a research report on Monday, May 5th. They set a “buy” rating and a $30.40 price objective for the company. Finally, Daiwa America raised EHang to a “strong-buy” rating in a research report on Tuesday, April 1st. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $25.68.

EHang Stock Down 3.9%

The firm has a 50-day moving average of $18.74 and a 200 day moving average of $17.98. 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 market capitalization of $1.37 billion, a price-to-earnings ratio of -35.35 and a beta of 1.10.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Natixis acquired a new position in EHang during the fourth quarter valued at approximately $25,000. Tower Research Capital LLC TRC boosted its position in EHang by 247.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,068 shares of the company’s stock valued at $33,000 after purchasing an additional 1,472 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in EHang during the fourth quarter valued at approximately $79,000. ABS Direct Equity Fund LLC acquired a new position in EHang during the first quarter valued at approximately $292,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in EHang during the fourth quarter valued at approximately $369,000. 94.03% of the stock is owned by institutional investors and hedge funds.

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.