EHang (NASDAQ:EH) Shares Gap Down – Here’s Why

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.

Wall Street Analysts Forecast Growth

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

EHang Price Performance

The company has a quick ratio of 2.25, a current ratio of 2.39 and a debt-to-equity ratio of 0.01. The company’s fifty day moving average is $20.40 and its 200 day moving average is $17.03. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of -42.44 and a beta of 0.91.

Institutional Investors Weigh In On EHang

Hedge funds and other institutional investors have recently modified their holdings of the company. Verition Fund Management LLC bought a new stake in EHang during the third quarter worth about $508,000. SBI Securities Co. Ltd. acquired a new position in shares of EHang in the 4th quarter valued at approximately $431,000. Baader Bank Aktiengesellschaft lifted its holdings in shares of EHang by 22.8% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 178,000 shares of the company’s stock worth $2,803,000 after acquiring an additional 33,000 shares during the period. State Street Corp increased its stake in EHang by 1.2% in the third quarter. State Street Corp now owns 1,299,186 shares of the company’s stock valued at $18,370,000 after acquiring an additional 15,781 shares during the last quarter. Finally, Quantbot Technologies LP raised its position in EHang by 78.2% during the third quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock valued at $132,000 after purchasing an additional 4,101 shares in the last quarter. Institutional investors and hedge funds own 94.03% of the company’s stock.

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.