EHang (NASDAQ:EH) Shares Gap Up – What’s Next?

EHang Holdings Limited (NASDAQ:EH) gapped up prior to trading on Monday . The stock had previously closed at $14.44, but opened at $15.41. EHang shares last traded at $15.74, with a volume of 780,026 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. CICC Research assumed coverage on EHang in a research report on Thursday, January 2nd. They set an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft raised shares of EHang from a “hold” rating to a “buy” rating and dropped their target price for the stock from $22.00 to $20.00 in a report on Monday. Daiwa Capital Markets initiated coverage on shares of EHang in a research note on Wednesday, April 2nd. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Daiwa America raised shares of EHang to a “strong-buy” rating in a research note on Tuesday, April 1st. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, EHang currently has an average rating of “Buy” and an average target price of $24.88.

EHang Stock Performance

The company has a current ratio of 2.39, a quick ratio of 2.25 and a debt-to-equity ratio of 0.01. The firm has a fifty day moving average price of $21.49 and a 200 day moving average price of $17.89. The firm has a market cap of $967.20 million, a PE ratio of -28.20 and a beta of 0.99.

Hedge Funds Weigh In On EHang

Several institutional investors and hedge funds have recently bought and sold shares of EH. Norges Bank purchased a new stake in shares of EHang during the 4th quarter valued at approximately $3,809,000. Lighthouse Investment Partners LLC acquired a new stake in EHang during the fourth quarter worth $1,977,000. Cubist Systematic Strategies LLC raised its position in EHang by 151.2% in the fourth quarter. Cubist Systematic Strategies LLC now owns 110,855 shares of the company’s stock valued at $1,745,000 after purchasing an additional 66,724 shares during the period. Vanguard Group Inc. lifted its stake in shares of EHang by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 1,651,515 shares of the company’s stock valued at $26,003,000 after purchasing an additional 56,652 shares during the last quarter. Finally, Headlands Technologies LLC grew its holdings in shares of EHang by 2,080.4% during the 4th quarter. Headlands Technologies LLC now owns 57,977 shares of the company’s stock worth $913,000 after purchasing an additional 55,318 shares during the period. 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.