EHang (NASDAQ:EH) Shares Up 4.7% – Still a Buy?

EHang Holdings Limited (NASDAQ:EH) was up 4.7% on Tuesday . The company traded as high as $16.98 and last traded at $16.39. Approximately 799,193 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 1,383,882 shares. The stock had previously closed at $15.66.

Wall Street Analyst Weigh In

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

EHang Stock Performance

The stock’s 50-day moving average is $15.87 and its 200 day moving average is $14.52. 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 $1.02 billion, a P/E ratio of -29.76 and a beta of 0.94.

Institutional Investors Weigh In On EHang

Several institutional investors have recently added to or reduced their stakes in EH. State Street Corp raised its position in EHang by 1.2% in the 3rd quarter. State Street Corp now owns 1,299,186 shares of the company’s stock valued at $18,370,000 after buying an additional 15,781 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of EHang in the third quarter valued at approximately $104,000. Point72 Hong Kong Ltd bought a new stake in shares of EHang in the third quarter worth $118,000. Verition Fund Management LLC acquired a new position in EHang during the third quarter worth $508,000. Finally, Quantbot Technologies LP grew its position in EHang by 78.2% in the third quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock valued at $132,000 after purchasing an additional 4,101 shares in the last quarter. 94.03% of the stock is owned by institutional investors.

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.