China Renaissance Initiates Coverage on EHang (NASDAQ:EH)

China Renaissance assumed coverage on shares of EHang (NASDAQ:EH) in a research note released on Tuesday, MarketBeat.com reports. The firm issued a buy rating on the stock.

Separately, UBS Group initiated coverage on EHang in a research report on Wednesday, August 28th. They set a buy rating and a $22.00 price target on the stock.

EHang Price Performance

Shares of EH stock opened at $14.07 on Tuesday. The firm has a market cap of $893.53 million, a P/E ratio of -22.69 and a beta of 1.02. EHang has a fifty-two week low of $9.51 and a fifty-two week high of $25.78. The business’s 50 day moving average price is $12.70 and its 200-day moving average price is $15.20. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.99 and a current ratio of 2.12.

EHang (NASDAQ:EH) last issued its quarterly earnings data on Thursday, August 22nd. The company reported ($0.14) earnings per share for the quarter. The business had revenue of $14.04 million during the quarter. EHang had a negative return on equity of 84.09% and a negative net margin of 110.21%. During the same quarter in the prior year, the company posted ($0.18) EPS. On average, equities research analysts anticipate that EHang will post -0.41 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Comerica Bank increased its position in EHang by 685.1% during the first quarter. Comerica Bank now owns 1,264 shares of the company’s stock valued at $26,000 after acquiring an additional 1,103 shares during the last quarter. Jump Financial LLC purchased a new stake in EHang during the fourth quarter valued at $177,000. Aigen Investment Management LP purchased a new stake in EHang during the fourth quarter valued at $180,000. Headlands Technologies LLC purchased a new stake in EHang during the first quarter valued at $228,000. Finally, AdvisorShares Investments LLC purchased a new stake in EHang during the fourth quarter valued at $388,000. Hedge funds and other institutional investors own 94.03% of the company’s stock.

About EHang

EHang Holdings Limited operates as an autonomous aerial vehicle (AAV) technology platform company in the People's Republic of China, East Asia, West Asia, Europe, and internationally. It designs, develops, manufactures, sells, and operates AAVs, as well as their supporting systems and infrastructure for various industries and applications, including passenger transportation, logistics, smart city management, and aerial media solutions.