EHang (NASDAQ:EH) Shares Gap Up - Here's Why

Key Points

• EHang gapped up premarket, opening at $13.33 after a $12.27 close; the stock last traded around $12.66 on volume of about 569,025 shares, with 50- and 200-day SMAs at $12.84 and $14.93 respectively.
• Analyst views are mixed: Wall Street Zen upgraded EH to a Hold, JPMorgan cut its rating to Neutral and trimmed its target to $13, yet the MarketBeat consensus remains a Moderate Buy with a $23.48 target.
• Institutional investors own 94.03% of the stock, with recent notable new or increased stakes from Norges Bank, Federated Hermes and others.

EHang Holdings Limited Unsponsored ADR (NASDAQ:EH - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $12.27, but opened at $13.33. EHang shares last traded at $12.6560, with a volume of 569,025 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have commented on EH shares. Wall Street Zen upgraded EHang from a "sell" rating to a "hold" rating in a research note on Saturday, March 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of EHang in a research note on Wednesday, January 21st. Finally, JPMorgan Chase & Co. downgraded EHang from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $21.00 to $13.00 in a report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, EHang currently has an average rating of "Moderate Buy" and a consensus target price of $23.48.

EHang Price Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.17 and a current ratio of 2.33. The business's fifty day simple moving average is $12.84 and its 200 day simple moving average is $14.93. The stock has a market cap of $912.51 million, a price-to-earnings ratio of -22.67 and a beta of 0.96.

Institutional Investors Weigh In On EHang

A number of hedge funds have recently bought and sold shares of EH. Federated Hermes Inc. acquired a new position in shares of EHang in the 3rd quarter valued at approximately $1,571,000. Norges Bank acquired a new stake in shares of EHang during the second quarter worth approximately $7,669,000. XTX Topco Ltd acquired a new stake in shares of EHang during the second quarter worth approximately $1,009,000. Eschler Asset Management LLP increased its stake in shares of EHang by 1,329.8% in the second quarter. Eschler Asset Management LLP now owns 200,000 shares of the company's stock worth $3,472,000 after buying an additional 186,012 shares during the last quarter. Finally, Hel Ved Capital Management Ltd raised its holdings in EHang by 302.3% in the second quarter. Hel Ved Capital Management Ltd now owns 245,431 shares of the company's stock valued at $4,261,000 after acquiring an additional 184,431 shares in the last quarter. Institutional investors and hedge funds own 94.03% of the company's stock.

About EHang

EHang Holdings Limited is a China-based technology company specializing in the development and manufacturing of autonomous aerial vehicles (AAVs) for passenger transportation, logistics, and other commercial applications. Established in 2014 and listed on NASDAQ under the ticker EH in 2019, EHang focuses on delivering turnkey solutions that integrate hardware, flight control systems and a cloud-based operating platform. Its flagship products include the EH216 series passenger AAV and the Falcon series unmanned aerial vehicles, designed to support urban air mobility, aerial filming, emergency response and short-range cargo delivery.

The company's business model encompasses research and development, manufacturing, certification support, and operations services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.