EHang Holdings’ Stock Rises On Upbeat Preliminary Revenues: Retail’s Unconvinced
By Stocktwits Inc | First Published Dec 31, 2024, 11:21 PM ISTChina-based EHang Holdings expects its fourth-quarter (Q4) revenues to be 20% higher than its guidance of RMB135 million ($18.5 million). Revenues for the quarter are expected to rise 187% from RMB56.6 million in the fourth quarter of 2023.
Shares of urban air mobility technology platform EHang Holdings rose over 2% on Tuesday after the company announced its preliminary fourth-quarter and fiscal year 2024 revenues.
China-based EHang Holdings expects its fourth-quarter (Q4) revenues to be 20% higher than its guidance of RMB135 million ($18.5 million). Revenues for the quarter are expected to rise 187% from RMB56.6 million in the fourth quarter of 2023.
Latest Videos
For fiscal year 2024, the company expects its revenues to hit RMB454 million, representing an increase of 6% from the guidance of RMB427 million. The fiscal 2024 revenues are expected to increase by 287% YoY from RMB117.4 million in 2023.
EHang Holdings cited the upward performance to stronger-than-expected market demand for its flagship EH216-S pilotless passenger-carrying aerial vehicles, key operational milestones, and growing momentum in the company’s business.
Despite the upbeat expectations and the subsequent stock price rise, retail sentiment on Stocktwits flipped into the ‘bearish’ territory (38/100) from ‘bullish’ a day ago, accompanied by ‘extremely high’ retail chatter.
On Stocktwits, the ticker received mixed opinions.
One user expressed optimism about the stock.
However, another believes the stock may face tough times under the incoming Trump administration.
EHang Holdings provides customers in various industries with unmanned aerial vehicle systems and solutions, including air mobility, smart city management, and aerial media solutions.
The firm’s flagship product EH216-S has obtained the world’s first type certificate, production certificate, and standard airworthiness certificate for pilotless eVTOL issued by the Civil Aviation Administration of China.
Notably, shares of the firm have gained just over 1% year-to-date.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
Exchange Rate: 1 RMB = 0.14 USD<
subscribe to Asianet Newsable WhatsApp channel by clicking here.