EHang (NASDAQ:EH) Trading Up 7% – Should You Buy?

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

Analyst Ratings Changes

Several equities analysts recently commented on the stock. China Renaissance assumed coverage on shares of EHang in a research report on Tuesday, September 24th. They set a “buy” rating for the company. CICC Research initiated coverage on shares of EHang in a report on Thursday, January 2nd. They set an “outperform” rating on the stock.

EHang Trading Up 6.5 %

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 50 day simple moving average of $15.45 and a two-hundred day simple moving average of $14.61. The stock has a market cap of $953.86 million, a price-to-earnings ratio of -27.81 and a beta of 0.94.

Hedge Funds Weigh In On EHang

A number of hedge funds have recently bought and sold shares of EH. XTX Topco Ltd acquired a new stake in shares of EHang in the second quarter valued at approximately $383,000. SteelPeak Wealth LLC increased its position in 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 acquiring an additional 27,805 shares during the period. Quantbot Technologies LP raised its stake in EHang by 78.2% during 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 in the last quarter. Verition Fund Management LLC acquired a new position in EHang during the 3rd quarter worth $508,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of EHang during the third quarter valued at $118,000. 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.