EHang Holdings Ltd ADR (NASDAQ: EH) Is A Blank Check For Growth

EHang Holdings Ltd ADR (NASDAQ:EH) shares, rose in value, with the stock price up by 1.52% to the previous day’s close as strong demand from buyers drove the stock to $14.70.

Actively observing the price movement in the last trading, the stock closed the session at $14.48. The value of beta (5-year monthly) was 0.94. Referring to stock’s 52-week performance, its high was $25.78, and the low was $8.63. On the whole, EH has fluctuated by 36.36% over the past month.

With the market capitalization of EHang Holdings Ltd ADR currently standing at about $600.94 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 15, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.1, which is expected to increase to -$0.06 for fiscal year -$0.63 and then to about -$0.1 by fiscal year 2024. Data indicates that the EPS growth is expected to be -21.20% in 2024, while the next year’s EPS growth is forecast to be 84.10%.

Analysts have estimated the company’s revenue for the quarter at $7.83 million, with a low estimate of $7.83 million and a high estimate of $7.83 million. According to the average forecast, sales growth in current quarter could jump up 244.30%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $16.29 million, representing an increase of 153.50% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that EH’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of EH currently trading nearly 34.42% and 22.60% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 72.52, while the 7-day volatility ratio is showing 9.07% which for the 30-day chart, stands at 6.15%. Furthermore, EHang Holdings Ltd ADR (EH)’s beta value is 0.95, and its average true range (ATR) is 0.90.

A comparison of EHang Holdings Ltd ADR (EH) with its peers suggests the former has fared considerably weaker in the market. EH showed an intraday change of 1.52% in last session, and over the past year, it grew by 30.43%%.

Data on historical trading for EHang Holdings Ltd ADR (NASDAQ:EH) indicates that the trading volumes over the past 10 days have averaged 1.03 million and over the past 3 months, they’ve averaged 708.38K. According to company’s latest data on outstanding shares, there are 40.88 million shares outstanding.

Nearly 1.54% of EHang Holdings Ltd ADR’s shares belong to company insiders and institutional investors own 26.89% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 6.56 million shares as on Feb 29, 2024, resulting in a short ratio of 9.67. According to the data, the short interest in EHang Holdings Ltd ADR (EH) stood at 10.87% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 6.91 million. The stock has fallen by -12.50% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the EH stock heading into the next quarter.

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