EHang (NASDAQ:EH) Trading Down 5.7% – What’s Next?

EHang Holdings Limited (NASDAQ:EH) dropped 5.7% during trading on Tuesday . The company traded as low as $17.31 and last traded at $17.50. Approximately 463,936 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 1,302,042 shares. The stock had previously closed at $18.55.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. China Renaissance started coverage on shares of EHang in a research report on Tuesday, September 24th. They set a “buy” rating for the company. UBS Group began coverage on shares of EHang in a research note on Wednesday, August 28th. They issued a “buy” rating and a $22.00 price objective on the stock.

EHang Stock Performance

The firm has a fifty day moving average of $14.78 and a 200 day moving average of $14.99. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.12 and a quick ratio of 1.99. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -30.02 and a beta of 1.01.

EHang (NASDAQ:EH) last posted its earnings results on Thursday, August 22nd. The company reported ($0.14) earnings per share for the quarter. The firm had revenue of $14.04 million for 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 business posted ($0.18) earnings per share. On average, sell-side analysts anticipate that EHang Holdings Limited will post -0.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EHang

A number of large investors have recently bought and sold shares of EH. Comerica Bank lifted its holdings in EHang by 685.1% during the first quarter. Comerica Bank now owns 1,264 shares of the company’s stock valued at $26,000 after purchasing an additional 1,103 shares in the last quarter. Headlands Technologies LLC acquired a new stake in EHang in the 1st quarter worth about $228,000. Russell Investments Group Ltd. purchased a new stake in EHang during the 1st quarter worth approximately $484,000. XTX Topco Ltd acquired a new position in shares of EHang during the second quarter valued at approximately $383,000. Finally, Hennion & Walsh Asset Management Inc. lifted its position in shares of EHang by 79.7% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 33,166 shares of the company’s stock valued at $682,000 after acquiring an additional 14,705 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.