EHang (NASDAQ:EH) Shares Gap Up – Still a Buy?

EHang Holdings Limited (NASDAQ:EH)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $17.52, but opened at $19.08. EHang shares last traded at $19.14, with a volume of 2,668,082 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on EH shares. China Renaissance began coverage on EHang in a report on Tuesday, September 24th. They set a “buy” rating on the stock. UBS Group initiated coverage on EHang in a report on Wednesday, August 28th. They issued a “buy” rating and a $22.00 price target for the company.

EHang Stock Performance

The company has a fifty day moving average price of $13.15 and a two-hundred day moving average price of $15.20. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -28.58 and a beta of 1.01. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.12 and a quick ratio of 1.99.

EHang (NASDAQ:EH) last posted its quarterly earnings results on Thursday, August 22nd. The company reported ($0.14) earnings per share (EPS) for the quarter. The company had revenue of $14.04 million during the quarter. EHang had a negative net margin of 110.21% and a negative return on equity of 84.09%. During the same quarter in the prior year, the company earned ($0.18) earnings per share. As a group, equities research analysts expect that EHang Holdings Limited will post -0.41 EPS for the current year.

Hedge Funds Weigh In On EHang

Large investors have recently added to or reduced their stakes in the company. Comerica Bank increased its holdings 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 buying an additional 1,103 shares during the period. Headlands Technologies LLC bought a new stake in EHang in the first quarter valued at about $228,000. Russell Investments Group Ltd. acquired a new position in EHang in the first quarter worth about $484,000. Nomura Holdings Inc. bought a new position in EHang during the fourth quarter worth about $396,000. Finally, XTX Topco Ltd acquired a new stake in EHang during the second quarter valued at approximately $383,000. Institutional investors and hedge funds own 94.03% of the company’s stock.

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.