EHang (NASDAQ:EH) Upgraded by Daiwa America to “Strong-Buy” Rating

Daiwa America upgraded shares of EHang (NASDAQ:EH) to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Several other research firms have also issued reports on EH. Daiwa Capital Markets began coverage on shares of EHang in a report on Wednesday. They issued a “buy” rating and a $30.00 target price for the company. CICC Research began coverage on shares of EHang in a research report on Thursday, January 2nd. They issued an “outperform” rating on the stock. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $26.50.

EHang Stock Performance

NASDAQ:EH opened at $19.78 on Tuesday. The firm has a market capitalization of $1.26 billion, a PE ratio of -36.63 and a beta of 0.91. The stock’s fifty day moving average is $21.72 and its 200 day moving average is $17.68. EHang has a fifty-two week low of $10.40 and a fifty-two week high of $29.76. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.25 and a current ratio of 2.39.

Institutional Investors Weigh In On EHang

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. increased 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 acquiring an additional 1,112 shares during the period. Geode Capital Management LLC grew its stake in EHang by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 27,752 shares of the company’s stock worth $437,000 after purchasing an additional 1,313 shares in the last quarter. Tower Research Capital LLC TRC increased 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 worth $33,000 after purchasing an additional 1,472 shares during the period. Natixis bought a new stake in EHang during the 4th quarter valued at $25,000. Finally, Quantbot Technologies LP lifted 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 worth $132,000 after buying an additional 4,101 shares during the period. Institutional investors own 94.03% of the company’s stock.

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.