EHang (NASDAQ:EH) Trading 8.5% Higher – Time to Buy?

EHang Holdings Limited (NASDAQ:EH)’s stock price was up 8.5% during mid-day trading on Friday . The stock traded as high as $15.30 and last traded at $15.21. Approximately 1,000,617 shares were traded during trading, a decline of 27% from the average daily volume of 1,368,616 shares. The stock had previously closed at $14.02.

Wall Street Analyst Weigh In

EH has been the subject of several research reports. UBS Group assumed coverage on shares of EHang in a report on Wednesday, August 28th. They issued a “buy” rating and a $22.00 price objective for the company. China Renaissance started coverage on EHang in a research note on Tuesday, September 24th. They issued a “buy” rating on the stock.

EHang Stock Up 7.1 %

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 2.25. The firm has a market capitalization of $953.23 million, a P/E ratio of -27.80 and a beta of 0.94. The business has a 50 day moving average price of $15.93 and a 200 day moving average price of $14.53.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EH. Axim Planning & Wealth grew its position in EHang by 12.5% in the 2nd quarter. Axim Planning & Wealth now owns 4,693,820 shares of the company’s stock worth $63,742,000 after purchasing an additional 520,733 shares during the last quarter. XTX Topco Ltd acquired a new stake in EHang during the second quarter worth about $383,000. SteelPeak Wealth LLC grew its position in EHang by 70.7% during the third quarter. SteelPeak Wealth LLC now owns 67,110 shares of the company’s stock worth $949,000 after buying an additional 27,805 shares in the last quarter. Quantbot Technologies LP raised its holdings in EHang by 78.2% in the 3rd quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock valued at $132,000 after acquiring an additional 4,101 shares in the last quarter. Finally, Verition Fund Management LLC bought a new stake in shares of EHang in the 3rd quarter worth approximately $508,000. 94.03% of the stock is currently owned by institutional investors and hedge funds.

EHang Company Profile

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.