EHang (NASDAQ:EH) Sees Unusually-High Trading Volume – Time to Buy?

Shares of EHang Holdings Limited (NASDAQ:EH) saw an uptick in trading volume on Monday . 2,614,897 shares traded hands during mid-day trading, an increase of 14% from the previous session’s volume of 2,295,012 shares.The stock last traded at $23.05 and had previously closed at $25.23.

Wall Street Analysts Forecast Growth

Separately, CICC Research began coverage on shares of EHang in a research note on Thursday, January 2nd. They set an “outperform” rating for the company.

EHang Stock Performance

The firm’s fifty day simple moving average is $17.56 and its 200 day simple moving average is $15.82. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -44.42 and a beta of 0.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 2.25.

Institutional Trading of EHang

Several large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of EHang during the fourth quarter valued at $3,809,000. Lighthouse Investment Partners LLC acquired a new stake in EHang during the 4th quarter worth about $1,977,000. Cubist Systematic Strategies LLC grew its stake 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 acquiring an additional 66,724 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of EHang by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 1,651,515 shares of the company’s stock valued at $26,003,000 after purchasing an additional 56,652 shares during the period. Finally, Headlands Technologies LLC lifted its position in shares of EHang by 2,080.4% in the fourth quarter. Headlands Technologies LLC now owns 57,977 shares of the company’s stock worth $913,000 after purchasing an additional 55,318 shares in the last quarter. 94.03% of the stock is owned by institutional investors and hedge funds.

EHang Company Profile

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.