EHang Holdings Limited (NASDAQ:EH – Get Free Report)’s share price rose 3.7% during mid-day trading on Thursday . The stock traded as high as $23.05 and last traded at $22.43. Approximately 1,022,210 shares traded hands during trading, a decline of 55% from the average daily volume of 2,296,930 shares. The stock had previously closed at $21.63.
Wall Street Analysts Forecast Growth
Separately, CICC Research initiated coverage on shares of EHang in a research note on Thursday, January 2nd. They set an “outperform” rating on the stock.
View Our Latest Stock Analysis on EH
EHang Price Performance
Institutional Investors Weigh In On EHang
Hedge funds have recently modified their holdings of the stock. Natixis acquired a new stake in shares of EHang in the fourth quarter worth approximately $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 valued at $33,000 after buying an additional 1,472 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in EHang during the fourth quarter valued at approximately $79,000. Point72 Asset Management L.P. acquired a new position in EHang during the third quarter valued at approximately $104,000. Finally, Point72 Hong Kong Ltd acquired a new position in EHang during the third quarter valued at approximately $118,000. 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.
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