EHang (NASDAQ:EH) Trading 8.9% Higher – Time to Buy?

Shares of EHang Holdings Limited (NASDAQ:EH) shot up 8.9% during trading on Monday . The stock traded as high as $15.43 and last traded at $15.31. 1,126,280 shares changed hands during trading, a decline of 18% from the average session volume of 1,380,763 shares. The stock had previously closed at $14.06.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on EH shares. UBS Group initiated coverage on EHang in a research note on Wednesday, August 28th. They set a “buy” rating and a $22.00 target price for the company. China Renaissance started coverage on EHang in a research report on Tuesday, September 24th. They issued a “buy” rating for the company.

EHang Stock Performance

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 stock’s 50 day simple moving average is $15.89 and its two-hundred day simple moving average is $14.76. The company has a market capitalization of $951.95 million, a P/E ratio of -27.78 and a beta of 0.99.

Institutional Trading of EHang

A number of hedge funds have recently modified their holdings of the company. Comerica Bank lifted its position in EHang by 685.1% in the 1st quarter. Comerica Bank now owns 1,264 shares of the company’s stock valued at $26,000 after acquiring an additional 1,103 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of EHang in the third quarter valued at about $104,000. Point72 Hong Kong Ltd bought a new position in shares of EHang during the third quarter worth about $118,000. Quantbot Technologies LP raised its holdings in shares of EHang by 78.2% in the third quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock valued at $132,000 after purchasing an additional 4,101 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of EHang during the 1st quarter worth about $484,000. 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.