EHang Holdings Ltd ADR (NASDAQ: EH) Stock: Can It Go Higher?

In today’s recent session, 1.12 million shares of the EHang Holdings Ltd ADR (NASDAQ:EH) have been traded, and its beta is 1.05. Most recently the company’s share price was $18.33, and it changed around -$2.07 or -10.15% from the last close, which brings the market valuation of the company to $749.33M. EH at last check was trading at a discount to its 52-week high of $25.78, offering almost -40.64% off that amount. The share price’s 52-week low was $9.18, which indicates that the recent value has risen by an impressive 49.92% since then. We note from EHang Holdings Ltd ADR’s average daily trading volume that its 10-day average is 2.95 million shares, with the 3-month average coming to 1.13 million.

EHang Holdings Ltd ADR (NASDAQ:EH) trade information

Instantly EH has been showing red trend so far today with a performance of -10.15% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently up 9.11% year-to-date, but still up 4.62% over the last five days. On the other hand, EHang Holdings Ltd ADR (NASDAQ:EH) is 63.22% up in the 30-day period. We can see from the shorts that 6.31 million shares have been sold at a short interest cover period of 6.7 day(s).

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EHang Holdings Ltd ADR (EH) estimates and forecasts

Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 35.70% in revenue this quarter, and will report an increase of 25.00% in the next quarter. The year-over-year growth rate is expected to be 245.80%, up from the previous year.

Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $6.55 million in revenue for the current quarter. 1 analysts expect EHang Holdings Ltd ADR to make $11.78 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $3.23 million and $1.38 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 102.60%. Forecasts for the next quarter put sales growth at 753.60%. Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -25.70%.

EHang Holdings Ltd ADR (NASDAQ:EH)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.82% of EHang Holdings Ltd ADR shares, and 27.59% of them are in the hands of institutional investors. The stock currently has a share float of 27.82%. EHang Holdings Ltd ADR stock is held by 83 institutions, with Axim Planning & Wealth being the largest institutional investor. By Dec 30, 2023, it held 8.87% of the shares, which is about 3.9 million shares worth $70.97 million.

Carmignac Gestion, with 4.30% or 1.89 million shares worth $34.43 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF and Vanguard International Stock Index-Emerging Markets Stk were the top two Mutual Funds as of Jan 30, 2024. The former held 1.18 million shares worth $21.5 million, making up 2.69% of all outstanding shares. On the other hand, Vanguard International Stock Index-Emerging Markets Stk held roughly 0.54 million shares worth around $9.88 million, which represents about 1.23% of the total shares outstanding.