EHang (NASDAQ:EH) Stock Price Up 7% – Here’s What Happened

Shares of EHang Holdings Limited (NASDAQ:EH) traded up 7% during mid-day trading on Tuesday . The stock traded as high as $15.20 and last traded at $15.08. 893,827 shares changed hands during trading, a decline of 44% from the average session volume of 1,584,312 shares. The stock had previously closed at $14.10.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EH. CICC Research began coverage on EHang in a research report on Thursday, January 2nd. They set an “outperform” rating on the stock. China Renaissance assumed coverage on shares of EHang in a report on Tuesday, September 24th. They set a “buy” rating on the stock.

EHang Price Performance

The stock’s fifty day moving average is $15.45 and its 200-day moving average is $14.61. 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 stock has a market cap of $953.86 million, a PE ratio of -27.81 and a beta of 0.94.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. purchased a new stake in EHang during the 3rd quarter worth about $104,000. Point72 Hong Kong Ltd acquired a new stake in EHang in the third quarter valued at about $118,000. Quantbot Technologies LP grew its position in EHang by 78.2% during the third quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock worth $132,000 after buying an additional 4,101 shares during the period. XTX Topco Ltd purchased a new stake in shares of EHang in the 2nd quarter worth about $383,000. Finally, Verition Fund Management LLC acquired a new stake in shares of EHang during the third quarter valued at $508,000. Institutional investors and hedge funds 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.