Traders Purchase High Volume of Put Options on EHang (NASDAQ:EH)

EHang Holdings Limited (NASDAQ:EH) was the target of unusually large options trading activity on Monday. Stock investors purchased 28,194 put options on the company. This represents an increase of 205% compared to the average volume of 9,259 put options.

EHang Stock Up 4.7%

EH stock opened at $17.03 on Tuesday. EHang has a 52 week low of $10.40 and a 52 week high of $29.76. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -31.54 and a beta of 1.06. The firm’s 50-day moving average is $16.84 and its two-hundred day moving average is $18.05. The company has a current ratio of 2.39, a quick ratio of 2.25 and a debt-to-equity ratio of 0.01.

Institutional Trading of EHang

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its holdings in shares of EHang by 11.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 125,781 shares of the company’s stock worth $2,628,000 after purchasing an additional 13,376 shares in the last quarter. KADENSA CAPITAL Ltd grew its position in EHang by 585.4% during the first quarter. KADENSA CAPITAL Ltd now owns 759,180 shares of the company’s stock valued at $15,859,000 after purchasing an additional 648,412 shares in the last quarter. Electron Capital Partners LLC grew its position in EHang by 34.0% during the first quarter. Electron Capital Partners LLC now owns 36,000 shares of the company’s stock valued at $752,000 after purchasing an additional 9,134 shares in the last quarter. Eschler Asset Management LLP purchased a new position in EHang during the first quarter valued at approximately $292,000. Finally, Cubist Systematic Strategies LLC grew its position in EHang by 517.1% in the first quarter. Cubist Systematic Strategies LLC now owns 684,103 shares of the company’s stock worth $14,291,000 after acquiring an additional 573,248 shares in the last quarter. 94.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EH. Deutsche Bank Aktiengesellschaft upgraded shares of EHang from a “hold” rating to a “buy” rating and lowered their target price for the stock from $22.00 to $20.00 in a research report on Monday, April 14th. Daiwa Capital Markets began coverage on shares of EHang in a research report on Wednesday, April 2nd. They issued a “buy” rating and a $30.00 price objective for the company. Daiwa America raised shares of EHang to a “strong-buy” rating in a report on Tuesday, April 1st. Jefferies Financial Group assumed coverage on shares of EHang in a report on Monday, May 5th. They set a “buy” rating and a $30.40 price objective for the company. Finally, Bank of America reduced their price target on shares of EHang from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, May 27th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $25.28.

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.