EHang (NASDAQ:EH) Stock Price Up 7% – Time to Buy?

EHang Holdings Limited (NASDAQ:EH) rose 7% during trading on Tuesday . The stock traded as high as $15.20 and last traded at $15.08. 893,827 shares were traded during trading, a decline of 44% from the average daily volume of 1,584,312 shares. The stock had previously closed at $14.10.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. China Renaissance assumed coverage on shares of EHang in a research note on Tuesday, September 24th. They issued a “buy” rating on the stock. CICC Research began coverage on shares of EHang in a research report on Thursday, January 2nd. They issued an “outperform” rating on the stock.

EHang Stock Up 1.1 %

The stock has a market capitalization of $960.91 million, a P/E ratio of -28.02 and a beta of 0.94. 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 50-day simple moving average of $15.33 and a 200 day simple moving average of $14.62.

Hedge Funds Weigh In On EHang

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP increased its stake 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 buying an additional 4,101 shares during the period. Point72 Asset Management L.P. acquired a new stake in EHang during the 3rd quarter valued at approximately $104,000. Point72 Hong Kong Ltd bought a new position in EHang during the 3rd quarter worth approximately $118,000. State Street Corp lifted its position in shares of EHang by 1.2% in the 3rd quarter. State Street Corp now owns 1,299,186 shares of the company’s stock worth $18,370,000 after purchasing an additional 15,781 shares during the period. Finally, SteelPeak Wealth LLC boosted its stake in shares of EHang by 70.7% in the 3rd quarter. SteelPeak Wealth LLC now owns 67,110 shares of the company’s stock valued at $949,000 after purchasing an additional 27,805 shares during the last quarter. 94.03% of the stock is currently owned by institutional investors and hedge funds.

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.