EHang (NASDAQ:EH) Shares Gap Down to $13.24

EHang Holdings Limited (NASDAQ:EH)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $13.24, but opened at $12.81. EHang shares last traded at $12.76, with a volume of 123,124 shares traded.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. UBS Group initiated coverage on shares of EHang in a research note on Wednesday, August 28th. They issued a “buy” rating and a $22.00 price objective for the company. China Renaissance assumed coverage on EHang in a report on Tuesday. They set a “buy” rating for the company.

EHang Stock Performance

The company has a current ratio of 2.12, a quick ratio of 1.99 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $802.77 million, a PE ratio of -20.60 and a beta of 1.02. The firm’s 50-day simple moving average is $12.69 and its 200-day simple moving average is $15.22.

EHang (NASDAQ:EH) last announced its quarterly earnings results on Thursday, August 22nd. The company reported ($0.14) earnings per share (EPS) for the quarter. The firm had revenue of $14.04 million during the quarter. EHang had a negative net margin of 110.21% and a negative return on equity of 84.09%. During the same period last year, the firm earned ($0.18) EPS. On average, research analysts predict that EHang Holdings Limited will post -0.41 earnings per share for the current year.

Hedge Funds Weigh In On EHang

Several institutional investors have recently made changes to their positions in the company. XTX Topco Ltd purchased a new position in EHang during the second quarter valued at approximately $383,000. Axim Planning & Wealth raised its position in shares of EHang by 12.5% in the 2nd quarter. Axim Planning & Wealth now owns 4,693,820 shares of the company’s stock worth $63,742,000 after acquiring an additional 520,733 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of EHang by 13.1% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 37,519 shares of the company’s stock worth $510,000 after purchasing an additional 4,353 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new stake in EHang during the second quarter valued at about $883,000. Finally, DNB Asset Management AS grew its stake in EHang by 24.9% in the second quarter. DNB Asset Management AS now owns 40,992 shares of the company’s stock valued at $557,000 after purchasing an additional 8,174 shares during the last quarter. Hedge funds and other institutional investors own 94.03% of the company’s stock.

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.