EHang (NASDAQ:EH) Shares Gap Down – Here’s What Happened

Shares of EHang Holdings Limited (NASDAQ:EH) gapped down prior to trading on Tuesday . The stock had previously closed at $20.50, but opened at $19.71. EHang shares last traded at $19.96, with a volume of 520,543 shares trading hands.

Analyst Ratings Changes

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

EHang Price Performance

The company’s 50-day simple moving average is $15.78 and its 200 day simple moving average is $14.99. The company has a market cap of $1.29 billion, a PE ratio of -37.56 and a beta of 0.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.25 and a current ratio of 2.39.

Institutional Trading of EHang

Large investors have recently made changes to their positions in the company. Quantbot Technologies LP boosted its position in shares of EHang by 78.2% during the 3rd quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock worth $132,000 after acquiring an additional 4,101 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in EHang in the third quarter valued at approximately $104,000. Point72 Hong Kong Ltd acquired a new stake in EHang during the third quarter worth approximately $118,000. State Street Corp lifted its position in shares of EHang by 1.2% during the 3rd quarter. State Street Corp now owns 1,299,186 shares of the company’s stock worth $18,370,000 after buying an additional 15,781 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of EHang in the 4th quarter valued at $431,000. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

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.