EHang (NASDAQ:EH) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of EHang Holdings Limited (NASDAQ:EH) saw strong trading volume on Friday . 898,416 shares traded hands during mid-day trading, a decline of 35% from the previous session’s volume of 1,380,726 shares.The stock last traded at $16.33 and had previously closed at $16.25.

Analysts Set New Price Targets

Separately, China Renaissance initiated coverage on EHang in a research note on Tuesday, September 24th. They set a “buy” rating on the stock.

EHang Trading Down 0.6 %

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’s 50 day moving average is $15.88 and its 200-day moving average is $14.52. The company has a market capitalization of $1.03 billion, a P/E ratio of -29.91 and a beta of 0.94.

Institutional Trading of EHang

A number of hedge funds have recently modified their holdings of the business. State Street Corp increased its stake in 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 purchasing an additional 15,781 shares in the last quarter. SteelPeak Wealth LLC lifted its position in EHang by 70.7% in the 3rd quarter. SteelPeak Wealth LLC now owns 67,110 shares of the company’s stock valued at $949,000 after acquiring an additional 27,805 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of EHang in the 3rd quarter worth $508,000. XTX Topco Ltd purchased a new position in shares of EHang in the second quarter worth $383,000. Finally, Quantbot Technologies LP boosted its position in shares of EHang by 78.2% during the third quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock valued at $132,000 after buying an additional 4,101 shares during the last quarter. Institutional investors 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.