Company shares last traded at $11.48 well above the 50 day moving average which is $10.29 and much higher than the 200 day moving average of $9.93. The 50 day moving average went up by +11.54% and the 200 day average went up $1.55 or +15.62%. Trading was heavy with 238K shares changing hands by the end of trading on Tuesday. Overall, volume was up 50.30% over the stocks normal daily volume.
Traders are feeling more bearish lately if you watch the motion in short interest. The firm recorded a rise in short interest from September 15, 2017 to September 29, 2017 of 2.53%. Short shares increased 15,867 over that timeframe. The days to cover increased to 8.0 and the percentage of shorted shares was 0.01% on September 29.
These funds have shifted positions in (EHIC). As of quarter end Invesco Ltd. had acquired a total of 5,693 shares growing its position 11.1%. The value of the company’s investment in eHi Car Services Limited Americ went from $519,000 to $569,000 increasing 9.6% quarter over quarter. Renaissance Technologies LLC added to its investment by buying 4,300 shares an increase of 2.7%. Renaissance Technologies LLC claims 165,200 shares with a value of $1,649,000. The value of the position overall is up by 1.4%.
Blackrock Inc. bolstered its stake by buying 772 shares an increase of 5.6% as of 06/30/2017. Blackrock Inc. currently owns 14,450 shares worth $144,000. The total value of its holdings increased 4.3%. Yiheng Capital LLC grew its ownership by buying 329,070 shares an increase of 14.9% from 03/31/2017 to 06/30/2017. Yiheng Capital LLC now holds 2,538,097 shares valued at $25,330,000. The total value of its holdings increased 13.4%.
The P/E ratio is currently 53.90 and market capitalization is 784.97M. In the latest earnings report the EPS was $0.21 and is projected to be $0.37 for the current year with 68,377,000 shares outstanding. Next quarter’s EPS is estimated at $0.10 with next year’s EPS projected to be $0.59.
eHi Car Services Limited, formerly Prudent Choice International Limited, launched on August 3, 2007, is a holding company. The Company is involved in car rentals and car services. The Company provides self-drive car rental services to both individual customers, as well as corporate and institutional clients to meet travel, leisure, business and ground transportation needs. The Company operates its car rentals business primarily through its subsidiaries, including Shanghai eHi Car Rental Co., Ltd. (eHi Rental), eHi Auto Services (Jiangsu) Co., Ltd. (eHi Jiangsu), and their subsidiaries and branches. For its car services business, the Company provides vehicles and chauffeur services through different subsidiaries. The Company provides chauffeur services through its subsidiary, Shanghai Smart Brand Auto Driving Services Co., Ltd. (Shanghai Smart Brand), and its subsidiaries and branches. The Company has a limited operating history..