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

EHang Holdings Limited (NASDAQ:EH)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $16.68, but opened at $17.51. EHang shares last traded at $17.68, with a volume of 397,388 shares trading hands.

Analysts Set New Price Targets

Several research firms have commented on EH. China Renaissance started coverage on shares of EHang in a research report on Tuesday, September 24th. They set a “buy” rating for the company. UBS Group started coverage on EHang in a research report on Wednesday, August 28th. They issued a “buy” rating and a $22.00 price target for the company.

EHang Stock Up 7.6 %

The company has a market cap of $1.14 billion, a P/E ratio of -31.14 and a beta of 0.99. The company has a 50-day simple moving average of $14.89 and a 200 day simple moving average of $14.97. The company has a current ratio of 2.12, a quick ratio of 1.99 and a debt-to-equity ratio of 0.02.

EHang (NASDAQ:EH) last released its quarterly earnings data on Thursday, August 22nd. The company reported ($0.14) earnings per share for the quarter. The business had revenue of $14.04 million during the quarter. EHang had a negative return on equity of 84.09% and a negative net margin of 110.21%. During the same period in the previous year, the business posted ($0.18) earnings per share. On average, equities analysts anticipate that EHang Holdings Limited will post -0.41 EPS for the current year.

Institutional Investors Weigh In On EHang

Institutional investors and hedge funds have recently made changes to their positions in the stock. Axim Planning & Wealth lifted its holdings in EHang by 12.5% in the second quarter. Axim Planning & Wealth now owns 4,693,820 shares of the company’s stock valued at $63,742,000 after acquiring an additional 520,733 shares during the period. Baader Bank Aktiengesellschaft acquired a new position in shares of EHang in the second quarter worth about $883,000. XTX Topco Ltd purchased a new stake in shares of EHang during the 2nd quarter worth about $383,000. SteelPeak Wealth LLC increased its stake in shares of 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 purchasing an additional 27,805 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in EHang in the 1st quarter worth about $484,000. 94.03% of the stock is currently owned by institutional investors and hedge funds.

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.