EHang (NASDAQ:EH) Sees Strong Trading Volume – Time to Buy?

EHang Holdings Limited (NASDAQ:EH) shares saw unusually-high trading volume on Friday . Approximately 898,416 shares changed hands during trading, a decline of 35% from the previous session’s volume of 1,380,726 shares.The stock last traded at $16.33 and had previously closed at $16.25.

Wall Street Analysts Forecast Growth

Separately, China Renaissance assumed coverage on EHang in a research report on Tuesday, September 24th. They issued a “buy” rating for the company.

EHang Trading Down 1.4 %

The business’s 50-day simple moving average is $15.87 and its 200-day simple moving average is $14.53. The company has a market cap of $1.02 billion, a PE ratio of -29.69 and a beta of 0.94. 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 Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Verition Fund Management LLC bought a new stake in EHang in the third quarter worth approximately $508,000. State Street Corp boosted its holdings in EHang by 1.2% in the third quarter. State Street Corp now owns 1,299,186 shares of the company’s stock worth $18,370,000 after purchasing an additional 15,781 shares in the last quarter. XTX Topco Ltd bought a new stake in EHang in the second quarter worth $383,000. SteelPeak Wealth LLC raised its holdings in EHang by 70.7% during the third quarter. SteelPeak Wealth LLC now owns 67,110 shares of the company’s stock valued at $949,000 after buying an additional 27,805 shares in the last quarter. Finally, Quantbot Technologies LP lifted its position in shares of EHang by 78.2% in the third quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock worth $132,000 after buying an additional 4,101 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.