EHang (NASDAQ:EH) Sees Strong Trading Volume – Here’s Why

Shares of EHang Holdings Limited (NASDAQ:EH) saw an uptick in trading volume on Thursday . 1,717,482 shares were traded during mid-day trading, an increase of 14% from the previous session’s volume of 1,512,198 shares.The stock last traded at $18.30 and had previously closed at $16.97.

Wall Street Analysts Forecast Growth

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

EHang Trading Up 12.1 %

The company has a current ratio of 2.39, a quick ratio of 2.25 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average of $15.68 and a 200-day moving average of $14.90.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new position in shares of EHang in the 3rd quarter worth approximately $104,000. Point72 Hong Kong Ltd purchased a new stake in EHang in the third quarter worth $118,000. Quantbot Technologies LP raised its holdings in EHang by 78.2% in the third quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock worth $132,000 after purchasing an additional 4,101 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of EHang during the 4th quarter valued at $431,000. Finally, Verition Fund Management LLC purchased a new stake in shares of EHang in the 3rd quarter worth about $508,000. 94.03% of the stock is owned by hedge funds and other 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.