EHang (NASDAQ:EH) Sees Unusually-High Trading Volume on Earnings Beat

EHang Holdings Limited (NASDAQ:EH) shares saw unusually-high trading volume on Wednesday following a stronger than expected earnings report. Approximately 3,506,814 shares were traded during mid-day trading, an increase of 56% from the previous session’s volume of 2,245,687 shares.The stock last traded at $22.28 and had previously closed at $22.45.

The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.10. EHang had a negative net margin of 73.03% and a negative return on equity of 56.12%.

Analyst Ratings Changes

Separately, CICC Research initiated coverage on shares of EHang in a research note on Thursday, January 2nd. They issued an “outperform” rating for the company.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Quantbot Technologies LP increased its stake in EHang by 78.2% in the third quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock valued at $132,000 after acquiring an additional 4,101 shares during the period. Verition Fund Management LLC bought a new stake in EHang during the third quarter worth about $508,000. Point72 Hong Kong Ltd bought a new stake in EHang during the third quarter worth about $118,000. Point72 Asset Management L.P. bought a new stake in EHang during the third quarter worth about $104,000. Finally, State Street Corp grew its stake in EHang by 1.2% during the third 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. Institutional investors and hedge funds own 94.03% of the company’s stock.

EHang Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 2.25. The stock has a market capitalization of $1.39 billion, a P/E ratio of -41.24 and a beta of 0.91. The company’s 50 day simple moving average is $19.42 and its two-hundred day simple moving average is $16.67.

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.