EHang (NASDAQ:EH) Shares Up 4.2% - Time to Buy?

EHang Holdings Limited (NASDAQ:EH - Get Free Report)'s stock price shot up 4.2% during mid-day trading on Wednesday . The company traded as high as $17.63 and last traded at $17.35. 252,451 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 1,294,695 shares. The stock had previously closed at $16.65.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on EH. UBS Group assumed coverage on EHang in a report on Wednesday, August 28th. They issued a "buy" rating and a $22.00 price target for the company. China Renaissance assumed coverage on EHang in a research note on Tuesday, September 24th. They issued a "buy" rating for the company.

EHang Stock Up 0.6 %

The company has a current ratio of 2.12, a quick ratio of 1.99 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average of $14.25 and a 200 day moving average of $15.04. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -27.02 and a beta of 1.01.

EHang (NASDAQ:EH - Get Free Report) last released its quarterly earnings results on Thursday, August 22nd. The company reported ($0.14) EPS for the quarter. EHang had a negative return on equity of 84.09% and a negative net margin of 110.21%. The business had revenue of $14.04 million during the quarter. During the same quarter last year, the business posted ($0.18) EPS. On average, sell-side analysts anticipate that EHang Holdings Limited will post -0.41 earnings per share for the current year.

Institutional Investors Weigh In On EHang

Institutional investors and hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP lifted its holdings in EHang by 34.3% in the first quarter. GSA Capital Partners LLP now owns 48,370 shares of the company's stock worth $995,000 after acquiring an additional 12,355 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in EHang by 79.7% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 33,166 shares of the company's stock valued at $682,000 after buying an additional 14,705 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new position in shares of EHang during the second quarter valued at $883,000. Vanguard Group Inc. increased its holdings in shares of EHang by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 1,563,754 shares of the company's stock worth $32,166,000 after acquiring an additional 8,228 shares during the period. Finally, Comerica Bank lifted its position in EHang by 685.1% in the 1st quarter. Comerica Bank now owns 1,264 shares of the company's stock valued at $26,000 after purchasing an additional 1,103 shares during the last quarter. 94.03% of the stock is owned by institutional investors and hedge funds.

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.