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

Shares of EHang Holdings Limited (NASDAQ:EH) gapped down before the market opened on Thursday . The stock had previously closed at $24.12, but opened at $23.23. EHang shares last traded at $23.19, with a volume of 416,012 shares traded.

Analysts Set New Price Targets

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

EHang Stock Down 4.9 %

The firm has a 50-day simple moving average of $20.40 and a 200 day simple moving average of $17.03. The stock has a market capitalization of $1.46 billion, a P/E ratio of -42.44 and a beta of 0.91. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 2.25.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EH. Verition Fund Management LLC acquired a new position in EHang in the 3rd quarter valued at approximately $508,000. SBI Securities Co. Ltd. bought a new stake in shares of EHang in the fourth quarter worth $431,000. Baader Bank Aktiengesellschaft increased its holdings in EHang by 22.8% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 178,000 shares of the company’s stock valued at $2,803,000 after purchasing an additional 33,000 shares during the period. State Street Corp increased its stake in shares of EHang by 1.2% in the third quarter. State Street Corp now owns 1,299,186 shares of the company’s stock valued at $18,370,000 after buying an additional 15,781 shares during the period. Finally, Quantbot Technologies LP raised its holdings in 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 purchasing an additional 4,101 shares during the last quarter. Institutional investors own 94.03% of the company’s stock.

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.