EHang (NASDAQ:EH) Stock Price Up 7.8% – Still a Buy?

EHang Holdings Limited (NASDAQ:EH)’s stock price rose 7.8% during trading on Wednesday . The company traded as high as $17.09 and last traded at $17.07. Approximately 673,143 shares traded hands during 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 subject of several analyst reports. UBS Group initiated coverage on shares of EHang in a research report on Wednesday, August 28th. They set a “buy” rating and a $22.00 price target for the company. China Renaissance began coverage on shares of EHang in a research note on Tuesday, September 24th. They issued a “buy” rating on the stock.

EHang Trading Up 12.4 %

The company’s 50-day moving average is $15.21 and its 200 day moving average is $14.94. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.99 and a current ratio of 2.12.

EHang (NASDAQ:EH) last released its quarterly earnings data on Thursday, August 22nd. The company reported ($0.14) earnings per share for the quarter. EHang had a negative return on equity of 84.09% and a negative net margin of 110.21%. The business had revenue of $14.04 million during the quarter. During the same period last year, the business posted ($0.18) earnings per share. On average, analysts forecast that EHang Holdings Limited will post -0.41 EPS for the current year.

Hedge Funds Weigh In On EHang

Institutional investors and hedge funds have recently bought and sold shares of the company. Comerica Bank grew its position in shares of EHang by 685.1% during the 1st quarter. Comerica Bank now owns 1,264 shares of the company’s stock valued at $26,000 after acquiring an additional 1,103 shares during the period. Quantbot Technologies LP raised its stake in EHang by 78.2% during the third quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock worth $132,000 after purchasing an additional 4,101 shares during the period. Headlands Technologies LLC purchased a new position in EHang in the first quarter worth approximately $228,000. XTX Topco Ltd acquired a new stake in shares of EHang during the 2nd quarter worth about $383,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of EHang in the 1st quarter valued at approximately $484,000. 94.03% of the stock is 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.