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

EHang Holdings Limited (NASDAQ:EH)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $21.36, but opened at $22.33. EHang shares last traded at $21.75, with a volume of 309,270 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, CICC Research began coverage on shares of EHang in a research note on Thursday, January 2nd. They set an “outperform” rating on the stock.

EHang Price Performance

The company has a market capitalization of $1.37 billion, a PE ratio of -40.06 and a beta of 0.91. The company has a current ratio of 2.39, a quick ratio of 2.25 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $19.54 and a 200-day simple moving average of $16.71.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Natixis purchased a new position in shares of EHang during the fourth quarter worth about $25,000. Tower Research Capital LLC TRC grew its stake in shares of EHang by 247.0% in the 4th 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 shares of EHang in the fourth quarter valued at approximately $79,000. Point72 Asset Management L.P. purchased a new stake in shares of EHang during the third quarter worth approximately $104,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of EHang during the third quarter worth $118,000. Institutional investors and hedge funds own 94.03% of the company’s stock.

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.