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

EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) gapped up before the market opened on Thursday . The stock had previously closed at $12.27, but opened at $13.33. EHang shares last traded at $12.6560, with a volume of 569,025 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EH. Weiss Ratings reissued a “sell (d-)” rating on shares of EHang in a research report on Wednesday, January 21st. JPMorgan Chase & Co. downgraded EHang from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $21.00 to $13.00 in a research note on Tuesday, November 25th. Finally, Wall Street Zen raised EHang from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, EHang presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.48.

EHang Price Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.17 and a current ratio of 2.33. The company’s fifty day moving average price is $12.84 and its 200 day moving average price is $14.93. The firm has a market capitalization of $912.51 million, a price-to-earnings ratio of -22.67 and a beta of 0.96.

Hedge Funds Weigh In On EHang

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of EHang by 2.8% during the third quarter. Vanguard Group Inc. now owns 2,022,710 shares of the company’s stock valued at $37,562,000 after purchasing an additional 55,913 shares during the last quarter. FIL Ltd lifted its holdings in shares of EHang by 2.9% in the 4th quarter. FIL Ltd now owns 1,402,092 shares of the company’s stock worth $18,480,000 after purchasing an additional 39,256 shares during the last quarter. State Street Corp lifted its holdings in shares of EHang by 4.7% in the 4th quarter. State Street Corp now owns 1,082,433 shares of the company’s stock worth $14,266,000 after purchasing an additional 48,356 shares during the last quarter. UBS Group AG boosted its position in EHang by 19.0% during the 4th quarter. UBS Group AG now owns 941,689 shares of the company’s stock valued at $12,411,000 after purchasing an additional 150,567 shares during the period. Finally, Baillie Gifford & Co. acquired a new position in EHang during the 4th quarter valued at approximately $10,204,000. 94.03% of the stock is currently owned by institutional investors and hedge funds.

About EHang

EHang Holdings Limited is a China-based technology company specializing in the development and manufacturing of autonomous aerial vehicles (AAVs) for passenger transportation, logistics, and other commercial applications. Established in 2014 and listed on NASDAQ under the ticker EH in 2019, EHang focuses on delivering turnkey solutions that integrate hardware, flight control systems and a cloud-based operating platform. Its flagship products include the EH216 series passenger AAV and the Falcon series unmanned aerial vehicles, designed to support urban air mobility, aerial filming, emergency response and short-range cargo delivery.

The company’s business model encompasses research and development, manufacturing, certification support, and operations services.