EHang (NASDAQ:EH) Sees Large Volume Increase – Here’s What Happened

EHang Holdings Limited (NASDAQ:EH) saw unusually-strong trading volume on Monday . Approximately 2,614,897 shares were traded during trading, an increase of 14% from the previous session’s volume of 2,295,012 shares.The stock last traded at $23.05 and had previously closed at $25.23.

Wall Street Analysts Forecast Growth

Separately, CICC Research assumed coverage on shares of EHang in a research note on Thursday, January 2nd. They issued an “outperform” rating on the stock.

EHang Trading Down 5.0 %

The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -44.42 and a beta of 0.94. The company has a fifty day moving average price of $17.56 and a 200-day moving average price of $15.82. The company has a current ratio of 2.39, a quick ratio of 2.25 and a debt-to-equity ratio of 0.01.

Institutional Trading of EHang

Institutional investors have recently added to or reduced their stakes in the business. SteelPeak Wealth LLC increased its stake in shares of EHang by 70.7% during the 3rd quarter. SteelPeak Wealth LLC now owns 67,110 shares of the company’s stock worth $949,000 after purchasing an additional 27,805 shares during the last quarter. Quantbot Technologies LP increased 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 last quarter. Verition Fund Management LLC bought a new position in EHang during the third quarter valued at about $508,000. Point72 Hong Kong Ltd acquired a new stake in shares of EHang in the third quarter worth about $118,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of EHang during the 3rd quarter worth about $104,000. 94.03% of the stock is currently owned by institutional investors and hedge funds.

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.