EHang (NASDAQ:EH) Trading 8.5% Higher – Here’s What Happened

EHang Holdings Limited (NASDAQ:EH) shares shot up 8.5% during trading on Friday . The stock traded as high as $15.30 and last traded at $15.21. 1,000,617 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 1,368,616 shares. The stock had previously closed at $14.02.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. UBS Group assumed coverage on EHang in a report on Wednesday, August 28th. They set a “buy” rating and a $22.00 price target for the company. China Renaissance assumed coverage on EHang in a research note on Tuesday, September 24th. They issued a “buy” rating for the company.

EHang Price Performance

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 firm has a market capitalization of $953.23 million, a P/E ratio of -27.80 and a beta of 0.94. The company’s 50 day moving average price is $15.93 and its 200 day moving average price is $14.53.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new position in shares of EHang in the 3rd quarter valued at about $104,000. Point72 Hong Kong Ltd acquired a new position in EHang in the third quarter valued at approximately $118,000. Quantbot Technologies LP boosted its stake in EHang by 78.2% in the third quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock valued at $132,000 after acquiring an additional 4,101 shares during the last quarter. XTX Topco Ltd acquired a new stake in EHang during the 2nd quarter worth $383,000. Finally, Verition Fund Management LLC bought a new stake in shares of EHang during the 3rd quarter valued at $508,000. 94.03% of the stock is currently 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.