EHang (NASDAQ:EH) Shares Up 3.7% – Time to Buy?

Shares of EHang Holdings Limited (NASDAQ:EH) shot up 3.7% during trading on Thursday . The company traded as high as $23.05 and last traded at $22.43. 1,022,210 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 2,296,930 shares. The stock had previously closed at $21.63.

Analysts Set New Price Targets

Separately, CICC Research started coverage on shares of EHang in a research report on Thursday, January 2nd. They set an “outperform” rating on the stock.

EHang Price Performance

The business has a 50-day moving average of $19.54 and a 200 day moving average of $16.71. The firm has a market capitalization of $1.37 billion, a PE ratio of -39.97 and a beta of 0.91. The company has a current ratio of 2.39, a quick ratio of 2.25 and a debt-to-equity ratio of 0.01.

Institutional Trading of EHang

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of EHang during the 4th quarter valued at about $3,809,000. Lighthouse Investment Partners LLC purchased a new position in EHang during the 4th quarter valued at $1,977,000. Cubist Systematic Strategies LLC raised its position in EHang by 151.2% during the 4th quarter. Cubist Systematic Strategies LLC now owns 110,855 shares of the company’s stock valued at $1,745,000 after purchasing an additional 66,724 shares in the last quarter. Vanguard Group Inc. lifted its position in EHang by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 1,651,515 shares of the company’s stock valued at $26,003,000 after acquiring an additional 56,652 shares during the last quarter. Finally, Headlands Technologies LLC raised its stake in EHang by 2,080.4% in the 4th quarter. Headlands Technologies LLC now owns 57,977 shares of the company’s stock worth $913,000 after acquiring an additional 55,318 shares during the last quarter. 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.