EHang (NASDAQ:EH) Sees Strong Trading Volume – Time to Buy?

EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) saw strong trading volume on Friday . 712,563 shares traded hands during trading, an increase of 9% from the previous session’s volume of 652,289 shares.The stock last traded at $8.4390 and had previously closed at $9.23.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wall Street Zen upgraded EHang from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings lowered EHang from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. Bank of America reaffirmed a “buy” rating on shares of EHang in a research report on Thursday, March 12th. Finally, UBS Group lowered shares of EHang from a “buy” rating to a “neutral” rating and set a $11.10 price target for the company. in a research note on Thursday. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.05.

EHang Price Performance

The company has a current ratio of 2.07, a quick ratio of 1.93 and a debt-to-equity ratio of 0.08. The company has a market cap of $598.34 million, a PE ratio of -18.10 and a beta of 1.13. The firm has a 50 day moving average of $10.18 and a two-hundred day moving average of $12.01.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Leonteq Securities AG purchased a new stake in EHang during the fourth quarter valued at $26,000. Bessemer Group Inc. bought a new stake in shares of EHang during the 1st quarter valued at about $51,000. Legal & General Group Plc increased its position in shares of EHang by 171.7% during the 2nd quarter. Legal & General Group Plc now owns 3,380 shares of the company’s stock valued at $59,000 after purchasing an additional 2,136 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of EHang by 47.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,816 shares of the company’s stock valued at $63,000 after purchasing an additional 1,553 shares during the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of EHang in the 3rd quarter worth approximately $117,000. Hedge funds and other institutional investors own 94.03% of the company’s stock.

About EHang

EHang Holdings Limited is a China-based technology company specializing in the development and manufacturing of autonomous aerial vehicles (AAVs) for passenger transportation, logistics, and other commercial applications. Established in 2014 and listed on NASDAQ under the ticker EH in 2019, EHang focuses on delivering turnkey solutions that integrate hardware, flight control systems and a cloud-based operating platform. Its flagship products include the EH216 series passenger AAV and the Falcon series unmanned aerial vehicles, designed to support urban air mobility, aerial filming, emergency response and short-range cargo delivery.

The company’s business model encompasses research and development, manufacturing, certification support, and operations services.