EHang (NASDAQ:EH) Trading 3.8% Higher – Still a Buy?

EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) traded up 3.8% during trading on Tuesday . The stock traded as high as $13.30 and last traded at $13.2720. 300,662 shares changed hands during trading, a decline of 81% from the average session volume of 1,564,857 shares. The stock had previously closed at $12.79.

Analysts Set New Price Targets

A number of equities analysts have issued reports on EH shares. Weiss Ratings restated a “sell (d-)” rating on shares of EHang in a report on Wednesday, October 8th. JPMorgan Chase & Co. downgraded shares of EHang from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $21.00 to $13.00 in a research report on Tuesday, November 25th. Dbs Bank began coverage on shares of EHang in a report on Thursday, October 2nd. They issued a “buy” rating for the company. Finally, Wall Street Zen downgraded shares of EHang from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $23.48.

EHang Trading Up 5.1%

The business has a fifty day moving average of $15.07 and a 200-day moving average of $16.64. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.17 and a current ratio of 2.33. The company has a market capitalization of $966.63 million, a P/E ratio of -23.94 and a beta of 0.56.

Institutional Investors Weigh In On EHang

Hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc lifted its position in EHang by 171.7% in the 2nd quarter. Legal & General Group Plc now owns 3,380 shares of the company’s stock valued at $59,000 after acquiring an additional 2,136 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of EHang by 3,147.8% in the second quarter. Caitong International Asset Management Co. Ltd now owns 6,528 shares of the company’s stock worth $113,000 after purchasing an additional 6,327 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of EHang in the third quarter valued at approximately $117,000. JPMorgan Chase & Co. lifted its holdings in shares of EHang by 10.1% in the second quarter. JPMorgan Chase & Co. now owns 7,292 shares of the company’s stock valued at $127,000 after purchasing an additional 671 shares in the last quarter. Finally, Envestnet Asset Management Inc. purchased a new position in shares of EHang during the third quarter valued at approximately $284,000. 94.03% of the stock is owned by institutional investors.

EHang Company Profile

EHang Holdings Limited is a China-based technology company specializing in the development and manufacturing of autonomous aerial vehicles (AAVs) for passenger transportation, logistics, and other commercial applications. Established in 2014 and listed on NASDAQ under the ticker EH in 2019, EHang focuses on delivering turnkey solutions that integrate hardware, flight control systems and a cloud-based operating platform. Its flagship products include the EH216 series passenger AAV and the Falcon series unmanned aerial vehicles, designed to support urban air mobility, aerial filming, emergency response and short-range cargo delivery.

The company’s business model encompasses research and development, manufacturing, certification support, and operations services.