EHang (NASDAQ:EH) Shares Gap Down – Should You Sell?

EHang Holdings Limited (NASDAQ:EH)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $24.12, but opened at $23.23. EHang shares last traded at $23.19, with a volume of 416,012 shares traded.

Analyst Ratings Changes

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

EHang Stock Performance

The firm has a 50 day moving average of $20.73 and a two-hundred day moving average of $17.13. The stock has a market cap of $1.46 billion, a PE ratio of -42.69 and a beta of 0.91. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 2.25.

Institutional Investors Weigh In On EHang

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Natixis acquired a new position in EHang during the fourth quarter worth $25,000. Tower Research Capital LLC TRC lifted its position in EHang by 247.0% during the fourth 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 during the period. JPMorgan Chase & Co. purchased a new position in EHang during the fourth quarter worth about $79,000. Point72 Asset Management L.P. purchased a new position in EHang during the third quarter worth about $104,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of EHang in the 3rd quarter worth about $118,000. Hedge funds and other 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.