EHang (NASDAQ:EH) Stock Price Up 6.1% – Here’s Why

EHang Holdings Limited (NASDAQ:EH) shares shot up 6.1% during trading on Friday . The company traded as high as $19.40 and last traded at $19.31. 1,946,746 shares traded hands during trading, an increase of 19% from the average session volume of 1,629,926 shares. The stock had previously closed at $18.20.

Analyst Upgrades and Downgrades

Separately, CICC Research began coverage on EHang in a research report on Thursday, January 2nd. They set an “outperform” rating on the stock.

EHang Stock Performance

The firm’s 50 day simple moving average is $15.58 and its 200-day simple moving average is $14.84. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.25 and a current ratio of 2.39. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -37.68 and a beta of 0.94.

Hedge Funds Weigh In On EHang

Several institutional investors have recently bought and sold shares of the company. Verition Fund Management LLC purchased a new stake in shares of EHang during the third quarter worth approximately $508,000. Baader Bank Aktiengesellschaft lifted its holdings in shares of EHang by 22.8% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 178,000 shares of the company’s stock valued at $2,803,000 after buying an additional 33,000 shares during the period. SteelPeak Wealth LLC lifted its position in shares of EHang by 70.7% during 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 during the period. SBI Securities Co. Ltd. acquired a new position in EHang during the fourth quarter worth about $431,000. Finally, State Street Corp raised its holdings in shares of EHang by 1.2% in the third quarter. State Street Corp now owns 1,299,186 shares of the company’s stock worth $18,370,000 after acquiring an additional 15,781 shares during the last quarter. 94.03% of the stock is 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.