EHang (NASDAQ:EH) Stock Price Up 4.6% – Still a Buy?

EHang Holdings Limited (NASDAQ:EH)’s stock price rose 4.6% during mid-day trading on Wednesday . The stock traded as high as $16.42 and last traded at $16.51. Approximately 967,013 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 1,650,397 shares. The stock had previously closed at $15.78.

Wall Street Analyst Weigh In

EH has been the subject of several analyst reports. Daiwa Capital Markets initiated coverage on EHang in a report on Wednesday, April 2nd. They issued a “buy” rating and a $30.00 target price for the company. Bank of America dropped their target price on EHang from $26.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday. Jefferies Financial Group initiated coverage on EHang in a report on Monday, May 5th. They issued a “buy” rating and a $30.40 target price for the company. Daiwa America upgraded EHang to a “strong-buy” rating in a report on Tuesday, April 1st. Finally, Deutsche Bank Aktiengesellschaft upgraded EHang from a “hold” rating to a “buy” rating and dropped their target price for the company from $22.00 to $20.00 in a report on Monday, April 14th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $25.28.

EHang Trading Up 5.7%

The firm has a market capitalization of $1.20 billion, a PE ratio of -30.88 and a beta of 1.10. The company has a current ratio of 2.39, a quick ratio of 2.25 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average price of $17.78 and a two-hundred day moving average price of $17.99.

Hedge Funds Weigh In On EHang

Hedge funds have recently modified their holdings of the business. Invesco Ltd. boosted its position in shares of EHang by 2.9% during the fourth quarter. Invesco Ltd. now owns 39,820 shares of the company’s stock worth $627,000 after buying an additional 1,112 shares during the period. Geode Capital Management LLC boosted its holdings in EHang by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 27,752 shares of the company’s stock valued at $437,000 after acquiring an additional 1,313 shares during the period. Tower Research Capital LLC TRC boosted its holdings in EHang by 247.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,068 shares of the company’s stock valued at $33,000 after acquiring an additional 1,472 shares during the period. Natixis purchased a new position in EHang during the 4th quarter valued at about $25,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in EHang by 4.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 73,182 shares of the company’s stock valued at $1,529,000 after acquiring an additional 2,790 shares during the period. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

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.