EHang (NASDAQ:EH) Sees Large Volume Increase – Here’s Why

Shares of EHang Holdings Limited (NASDAQ:EH) saw unusually-high trading volume on Monday . Approximately 2,614,897 shares traded hands during trading, an increase of 14% from the previous session’s volume of 2,295,012 shares.The stock last traded at $23.05 and had previously closed at $25.23.

Analyst Upgrades and Downgrades

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

EHang Price Performance

The firm has a market cap of $1.60 billion, a P/E ratio of -46.76 and a beta of 0.94. 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 firm’s 50 day moving average is $17.92 and its 200 day moving average is $15.97.

Hedge Funds Weigh In On EHang

Several institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. boosted its stake in EHang by 2.9% in the 4th quarter. Invesco Ltd. now owns 39,820 shares of the company’s stock worth $627,000 after purchasing an additional 1,112 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of EHang by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 27,752 shares of the company’s stock worth $437,000 after buying an additional 1,313 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of EHang by 247.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,068 shares of the company’s stock valued at $33,000 after buying an additional 1,472 shares during the last quarter. Natixis bought a new stake in shares of EHang during the fourth quarter valued at approximately $25,000. Finally, Quantbot Technologies LP increased its position in shares of EHang by 78.2% during 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 in the last quarter. 94.03% of the stock is currently owned by 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.