EHang (NASDAQ:EH) Shares Gap Up – Should You Buy?

EHang Holdings Limited (NASDAQ:EH) gapped up before the market opened on Tuesday . The stock had previously closed at $21.36, but opened at $22.33. EHang shares last traded at $21.75, with a volume of 309,270 shares.

Analyst Ratings Changes

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

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 stock’s 50 day moving average price is $19.54 and its two-hundred day moving average price is $16.71. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -40.06 and a beta of 0.91.

Institutional Investors Weigh In On EHang

Institutional investors and hedge funds have recently modified their holdings of the company. Natixis acquired a new stake in EHang in the 4th quarter valued at about $25,000. Tower Research Capital LLC TRC increased its stake in shares of EHang by 247.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,068 shares of the company’s stock worth $33,000 after purchasing an additional 1,472 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of EHang during the 4th quarter worth approximately $79,000. Point72 Asset Management L.P. purchased a new stake in EHang in the 3rd quarter valued at approximately $104,000. Finally, Point72 Hong Kong Ltd purchased a new position in EHang during the third quarter worth $118,000. 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.