EHang (NASDAQ:EH) Trading Up 7.8% – Time to Buy?

Shares of EHang Holdings Limited (NASDAQ:EH) rose 7.8% during trading on Wednesday . The stock traded as high as $17.09 and last traded at $17.07. Approximately 673,143 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 1,314,371 shares. The stock had previously closed at $15.84.

Analyst Upgrades and Downgrades

EH has been the topic of several analyst reports. UBS Group initiated coverage on shares of EHang in a report on Wednesday, August 28th. They set a “buy” rating and a $22.00 price target on the stock. China Renaissance began coverage on EHang in a research report on Tuesday, September 24th. They set a “buy” rating for the company.

EHang Stock Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.99 and a current ratio of 2.12. The company’s 50 day moving average price is $15.32 and its 200-day moving average price is $14.96. The company has a market cap of $1.05 billion, a PE ratio of -28.59 and a beta of 0.99.

EHang (NASDAQ:EH) last issued its quarterly earnings results on Thursday, August 22nd. The company reported ($0.14) EPS for the quarter. EHang had a negative net margin of 110.21% and a negative return on equity of 84.09%. The firm had revenue of $14.04 million for the quarter. During the same quarter in the previous year, the company earned ($0.18) earnings per share. Equities research analysts anticipate that EHang Holdings Limited will post -0.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EHang

Several hedge funds have recently made changes to their positions in EH. Axim Planning & Wealth grew its holdings in EHang by 12.5% during the 2nd quarter. Axim Planning & Wealth now owns 4,693,820 shares of the company’s stock valued at $63,742,000 after buying an additional 520,733 shares in the last quarter. Vanguard Group Inc. boosted its holdings in EHang by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 1,563,754 shares of the company’s stock valued at $32,166,000 after purchasing an additional 8,228 shares during the period. SteelPeak Wealth LLC increased its holdings in shares of EHang by 70.7% in the third quarter. SteelPeak Wealth LLC now owns 67,110 shares of the company’s stock worth $949,000 after purchasing an additional 27,805 shares during the period. Baader Bank Aktiengesellschaft purchased a new stake in shares of EHang in the second quarter worth $883,000. Finally, DNB Asset Management AS boosted its stake in EHang by 24.9% during the second quarter. DNB Asset Management AS now owns 40,992 shares of the company’s stock valued at $557,000 after buying an additional 8,174 shares during the period. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

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.