EHang (NASDAQ:EH) Shares Gap Up – Should You Buy?

EHang Holdings Limited (NASDAQ:EH)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $15.24, but opened at $15.73. EHang shares last traded at $16.09, with a volume of 383,485 shares traded.

Analysts Set New Price Targets

EH has been the topic of a number of recent research reports. UBS Group began coverage on shares of EHang in a research note on Wednesday, August 28th. They set a “buy” rating and a $22.00 price objective on the stock. China Renaissance assumed coverage on shares of EHang in a research note on Tuesday, September 24th. They issued a “buy” rating for the company.

EHang Stock Up 10.2 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.25 and a current ratio of 2.39. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -31.11 and a beta of 0.94. The business has a 50-day simple moving average of $15.87 and a two-hundred day simple moving average of $14.51.

Hedge Funds Weigh In On EHang

Several large investors have recently added to or reduced their stakes in EH. Verition Fund Management LLC purchased a new stake in EHang during the 3rd quarter worth $508,000. State Street Corp lifted its holdings in EHang by 1.2% in the third quarter. State Street Corp now owns 1,299,186 shares of the company’s stock worth $18,370,000 after acquiring an additional 15,781 shares during the last quarter. XTX Topco Ltd bought a new position in shares of EHang during the second quarter worth about $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. Finally, Quantbot Technologies LP lifted its position in EHang by 78.2% in 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. 94.03% of the stock is currently 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.