EHang (NASDAQ:EH) Trading Up 11.1% – What’s Next?

Shares of EHang Holdings Limited (NASDAQ:EH) traded up 11.1% during mid-day trading on Monday . The company traded as high as $16.93 and last traded at $16.77. 2,044,386 shares traded hands during trading, an increase of 48% from the average session volume of 1,377,316 shares. The stock had previously closed at $15.09.

Analyst Upgrades and Downgrades

Several brokerages have commented on EH. UBS Group assumed coverage on EHang in a research report on Wednesday, August 28th. They issued a “buy” rating and a $22.00 price objective on the stock. China Renaissance started coverage on shares of EHang in a research note on Tuesday, September 24th. They set a “buy” rating for the company.

EHang Stock Down 1.1 %

The company has a quick ratio of 2.25, a current ratio of 2.39 and a debt-to-equity ratio of 0.01. The stock has a market cap of $972.91 million, a P/E ratio of -28.69 and a beta of 0.94. The company’s 50 day moving average price is $16.34 and its two-hundred day moving average price is $14.62.

Hedge Funds Weigh In On EHang

Institutional investors have recently made changes to their positions in the company. Comerica Bank increased its holdings in EHang by 685.1% during the first quarter. Comerica Bank now owns 1,264 shares of the company’s stock valued at $26,000 after buying an additional 1,103 shares during the period. Point72 Asset Management L.P. purchased a new stake in EHang during the third quarter worth $104,000. Point72 Hong Kong Ltd bought a new stake in EHang during the 3rd quarter valued at $118,000. Quantbot Technologies LP increased its holdings in shares of EHang by 78.2% in the 3rd quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock valued at $132,000 after acquiring an additional 4,101 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of EHang in the 2nd quarter worth $383,000. Hedge funds and other institutional investors own 94.03% of the company’s stock.

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.