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

EHang Holdings Limited (NASDAQ:EH)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $25.81, but opened at $27.38. EHang shares last traded at $25.95, with a volume of 2,185,254 shares.

Analyst Ratings Changes

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

EHang Stock Performance

The company has a quick ratio of 2.25, a current ratio of 2.39 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $16.52 and a 200-day simple moving average of $15.30. The company has a market capitalization of $1.62 billion, a P/E ratio of -47.33 and a beta of 0.94.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of EH. Natixis acquired a new position in EHang in the fourth quarter worth $25,000. Tower Research Capital LLC TRC lifted its position in EHang by 247.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,068 shares of the company’s stock worth $33,000 after buying an additional 1,472 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in EHang during the 4th quarter worth about $79,000. Point72 Asset Management L.P. acquired a new stake in EHang in the 3rd quarter valued at about $104,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of EHang in the third quarter worth about $118,000. Institutional investors 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.