EHang (NASDAQ:EH) Shares Gap Up – Time to Buy?

EHang Holdings Limited (NASDAQ:EH)’s share 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 changing hands.

Analyst Ratings Changes

Separately, CICC Research assumed coverage on EHang in a research report on Thursday, January 2nd. They issued an “outperform” rating for the company.

EHang Stock Performance

The stock has a fifty day moving average price of $19.29 and a 200-day moving average price of $16.62. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -41.13 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.

Institutional Trading of EHang

Large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in EHang during the 4th quarter worth approximately $3,809,000. Lighthouse Investment Partners LLC acquired a new position in shares of EHang during the fourth quarter worth approximately $1,977,000. Cubist Systematic Strategies LLC grew its stake in shares of EHang by 151.2% during the fourth quarter. Cubist Systematic Strategies LLC now owns 110,855 shares of the company’s stock valued at $1,745,000 after purchasing an additional 66,724 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of EHang by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 1,651,515 shares of the company’s stock valued at $26,003,000 after purchasing an additional 56,652 shares in the last quarter. Finally, Headlands Technologies LLC raised its position in EHang by 2,080.4% in the 4th quarter. Headlands Technologies LLC now owns 57,977 shares of the company’s stock worth $913,000 after purchasing an additional 55,318 shares during the last quarter. 94.03% of the stock is owned by institutional investors.

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.