EHang (NASDAQ:EH) Stock Price Up 6.1% - Here's Why

EHang Holdings Limited (NASDAQ:EH) saw its stock price increase by 6.1% on Friday, reaching a high of $19.40, before closing at $19.31. During the trading session, around 1,946,746 shares were exchanged, which marks a 19% rise from the average daily volume of 1,629,926 shares. The previous closure was at $18.20.

Analyst Upgrades and Downgrades

On January 2nd, CICC Research initiated coverage of EHang shares with an "outperform" rating, signaling confidence in the company's future performance.

EHang Stock Performance

The company's quick ratio stands at 2.25, while the current ratio is 2.39, indicating good short-term financial health. EHang has a very low debt-to-equity ratio of 0.01, which suggests it is not heavily reliant on debt. The stock's 50-day moving average is $15.58 and the 200-day moving average is $14.84, providing a snapshot of its recent price trends. The current market capitalization of EHang is approximately $1.29 billion, with a price-to-earnings ratio of -37.68, reflecting the company's current lack of profitability and a beta of 0.94, indicating its volatility relative to the broader market.

Hedge Funds Weigh In On EHang

Recent activity among institutional investors reveals heightened interest in EHang. Verition Fund Management LLC invested approximately $508,000 in the third quarter. Baader Bank Aktiengesellschaft increased its stake by 22.8%, owning 178,000 shares valued at about $2.8 million after acquiring an additional 33,000 shares. SteelPeak Wealth LLC boosted its holding in EHang by 70.7% in the third quarter, now owning 67,110 shares worth approximately $949,000. SBI Securities Co. Ltd. also entered a new position, investing about $431,000 in the fourth quarter, while State Street Corp slightly increased its stake by 1.2%. Overall, institutional investors hold 94.03% of the company's stock, showcasing a significant level of confidence from these major shareholders.

About EHang

Founded as an autonomous aerial vehicle (AAV) technology platform company, EHang operates globally, with a focus on China, East Asia, West Asia, and Europe. The company is engaged in the design, development, manufacturing, sales, and operation of AAVs, along with their supporting systems and infrastructure. These developments cater to various applications, including passenger transport, logistics, smart city management, and aerial media solutions.

EHang, Stocks, Market