EHang Holdings Stock Is Rising: What's Going On?

EHang Holdings Ltd EH shares are trading higher Monday after the company reportedly began selling its EH216-S flying taxi on Taobao.

What Happened: Aerial vehicle company EHang has started selling its EH216-S vehicle on Chinese online shopping platform Taobao for 2.39 million yuan ($332,000), according to Reuters.

The news comes after EHang gained safety approval from the Civil Aviation Administration of China in October. The regulator said at the time that EHang fully complied with its safety standards and airworthiness requirements, setting the stage for EH216-S to conduct passenger-carrying UAV operations.

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Should I Sell My EH Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of EHang have increased by 95.77% in the past year. An investor who bought shares of EHang Holdings at the beginning of the year would make a profit of $1.80 per share if they sold it today. The stock has risen 71.88% over the past month, meaning an investor who bought shares on Feb. 1 would see a capital gain of $7.36.

EHang Holdings shares have an all-time high of $46.31, representing 163.12% upside from current levels.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. EHang Holdings stock currently has an RSI of 79.91, indicating overbought conditions.

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EH Price Action: EHang shares were up 14.5% at $17.60 at the time of publication, according to Benzinga Pro.

Photo: 3844328 from Pixabay.