EHang (NASDAQ:EH) Stock Price Up 16.1%

Shares of EHang Holdings Limited (NASDAQ:EH – Get Rating) rose 16.1% during trading on Friday . The stock traded as high as $15.19 and last traded at $15.12. Approximately 29,232 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 1,818,011 shares. The stock had previously closed at $13.02.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group initiated coverage on EHang in a research report on Thursday, October 27th. They issued a “neutral” rating and a $4.00 target price for the company.

EHang Price Performance

The stock has a fifty day moving average of $7.22 and a 200-day moving average of $6.55. The company has a quick ratio of 1.56, a current ratio of 1.98 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $961.55 million, a P/E ratio of -19.64 and a beta of 0.29.

Institutional Trading of EHang

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its position in EHang by 47.2% in the third quarter. State Street Corp now owns 371,972 shares of the company’s stock worth $1,566,000 after purchasing an additional 119,227 shares during the period. Two Sigma Investments LP acquired a new position in shares of EHang during the 3rd quarter worth about $288,000. Vanguard Group Inc. grew its position in shares of EHang by 6.1% during the 3rd quarter. Vanguard Group Inc. now owns 1,292,977 shares of the company’s stock worth $5,444,000 after buying an additional 74,680 shares during the period. BlackRock Inc. grew its position in shares of EHang by 19.2% during the 3rd quarter. BlackRock Inc. now owns 587,702 shares of the company’s stock worth $2,474,000 after buying an additional 94,743 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of EHang during the 3rd quarter worth about $85,000. 13.46% of the stock is currently owned by institutional investors and hedge funds.

EHang Company Profile

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EHang Holdings Limited operates as an autonomous aerial vehicle (AAV) technology platform company in the People's Republic of China, East 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.