EHang (NASDAQ:EH) Shares Gap Down – What’s Next?

EHang Holdings Limited (NASDAQ:EH)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $15.28, but opened at $13.79. EHang shares last traded at $13.48, with a volume of 2,862,034 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. China Renaissance assumed coverage on shares of EHang in a research note on Tuesday, September 24th. They set a “buy” rating on the stock. UBS Group assumed coverage on shares of EHang in a research note on Wednesday, August 28th. They set a “buy” rating and a $22.00 price target on the stock.

EHang Price Performance

The company has a current ratio of 2.39, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $892.89 million, a price-to-earnings ratio of -26.04 and a beta of 0.99. The company’s 50 day moving average is $15.77 and its 200 day moving average is $14.84.

EHang (NASDAQ:EH) last posted its quarterly earnings data on Thursday, August 22nd. The company reported ($0.14) EPS for the quarter. The business had revenue of $14.04 million during the quarter. EHang had a negative net margin of 73.03% and a negative return on equity of 56.12%. During the same quarter in the previous year, the company posted ($0.18) EPS. Research analysts anticipate that EHang Holdings Limited will post -0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EH. Comerica Bank increased its stake in shares of EHang by 685.1% during the first quarter. Comerica Bank now owns 1,264 shares of the company’s stock worth $26,000 after acquiring an additional 1,103 shares during the period. Quantbot Technologies LP increased its stake in shares of EHang by 78.2% during the third quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock worth $132,000 after acquiring an additional 4,101 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in shares of EHang by 13.1% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 37,519 shares of the company’s stock worth $510,000 after acquiring an additional 4,353 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of EHang during the third quarter worth about $104,000. Finally, DNB Asset Management AS increased its stake in shares of EHang by 24.9% during the second quarter. DNB Asset Management AS now owns 40,992 shares of the company’s stock worth $557,000 after acquiring an additional 8,174 shares during the period. 94.03% of the stock is currently owned by institutional investors and hedge funds.

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.