EHang (NASDAQ:EH) Shares Gap Up to $16.36

Shares of EHang Holdings Limited (NASDAQ:EH) gapped up prior to trading on Wednesday . The stock had previously closed at $16.36, but opened at $17.40. EHang shares last traded at $17.86, with a volume of 604,948 shares trading hands.

EHang Stock Performance

The company has a quick ratio of 1.57, a current ratio of 1.81 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $14.73 and a 200 day simple moving average of $15.09. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -26.13 and a beta of 1.04.

EHang (NASDAQ:EH) last issued its earnings results on Friday, March 15th. The company reported ($0.16) EPS for the quarter. EHang had a negative net margin of 257.09% and a negative return on equity of 188.90%. The company had revenue of $7.97 million during the quarter.

Hedge Funds Weigh In On EHang

Several hedge funds and other institutional investors have recently made changes to their positions in EH. Tower Research Capital LLC TRC boosted its position in shares of EHang by 290.4% during the third quarter. Tower Research Capital LLC TRC now owns 1,382 shares of the company’s stock worth $25,000 after buying an additional 1,028 shares during the period. Itau Unibanco Holding S.A. raised its holdings in EHang by 60.0% during the second quarter. Itau Unibanco Holding S.A. now owns 1,934 shares of the company’s stock worth $29,000 after purchasing an additional 725 shares in the last quarter. US Bancorp DE bought a new stake in EHang during the second quarter worth approximately $37,000. Credit Suisse AG bought a new stake in EHang during the second quarter worth approximately $47,000. Finally, Cubist Systematic Strategies LLC bought a new stake in EHang during the third quarter worth approximately $85,000. 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.