China Renaissance Initiates Coverage on EHang (NASDAQ:EH)

Equities research analysts at China Renaissance began coverage on shares of EHang (NASDAQ:EH) in a research report issued on Tuesday, Briefing.com reports. The brokerage set a “buy” rating on the stock.

Separately, UBS Group started coverage on EHang in a research note on Wednesday, August 28th. They set a “buy” rating and a $22.00 price objective on the stock.

EHang Stock Down 1.2 %

Shares of NASDAQ:EH opened at $11.77 on Tuesday. The stock has a 50-day simple moving average of $12.74 and a 200-day simple moving average of $15.21. The stock has a market capitalization of $747.47 million, a P/E ratio of -18.98 and a beta of 1.02. EHang has a 1 year low of $9.51 and a 1 year high of $25.78. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.99 and a current ratio of 2.12.

EHang (NASDAQ:EH) last released its quarterly earnings data on Thursday, August 22nd. The company reported ($0.14) earnings per share (EPS) for the quarter. The business had revenue of $14.04 million for the quarter. EHang had a negative return on equity of 84.09% and a negative net margin of 110.21%. During the same period in the prior year, the company posted ($0.18) EPS. Equities analysts forecast that EHang will post -0.41 earnings per share for the current year.

Hedge Funds Weigh In On EHang

A number of institutional investors have recently added to or reduced their stakes in the company. Axim Planning & Wealth boosted its stake in shares of EHang by 12.5% during the 2nd quarter. Axim Planning & Wealth now owns 4,693,820 shares of the company’s stock valued at $63,742,000 after buying an additional 520,733 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new position in EHang during the 2nd quarter valued at $883,000. SteelPeak Wealth LLC grew its holdings in EHang by 288.4% during the 1st quarter. SteelPeak Wealth LLC now owns 41,455 shares of the company’s stock worth $853,000 after acquiring an additional 30,782 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of EHang in the 2nd quarter worth about $383,000. Finally, Carmignac Gestion raised its stake in shares of EHang by 1.3% in the 4th quarter. Carmignac Gestion now owns 1,893,323 shares of the company’s stock valued at $31,813,000 after purchasing an additional 24,113 shares in the last quarter. Institutional investors and hedge funds own 94.03% of the company’s stock.

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.