EHang (NASDAQ:EH) Trading 3.7% Higher – Should You Buy?

EHang Holdings Limited (NASDAQ:EH) shares shot up 3.7% during mid-day trading on Thursday . The company traded as high as $23.05 and last traded at $22.43. 1,022,210 shares were traded 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.

Analyst Upgrades and Downgrades

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

EHang Price Performance

The stock’s fifty day moving average price is $19.84 and its 200-day moving average price is $16.80. 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 firm has a market cap of $1.54 billion, a PE ratio of -44.78 and a beta of 0.91.

Hedge Funds Weigh In On EHang

Hedge funds have recently added to or reduced their stakes in the business. Natixis purchased a new position in EHang during the 4th quarter valued at about $25,000. Tower Research Capital LLC TRC increased its holdings in EHang by 247.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,068 shares of the company’s stock valued at $33,000 after acquiring an additional 1,472 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in EHang during the 4th quarter valued at about $79,000. Point72 Asset Management L.P. acquired a new stake in shares of EHang during the 3rd quarter worth about $104,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of EHang during the 3rd quarter worth about $118,000. 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.