EHang (NASDAQ:EH) Sees Strong Trading Volume – Still a Buy?

Shares of EHang Holdings Limited (NASDAQ:EH) saw an uptick in trading volume on Friday . 898,416 shares changed hands during mid-day 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.

Analyst Upgrades and Downgrades

Separately, China Renaissance initiated coverage on shares of EHang in a research note on Tuesday, September 24th. They set a “buy” rating on the stock.

EHang Stock Performance

The stock has a market cap of $1.02 billion, a P/E ratio of -29.69 and a beta of 0.94. The company has a fifty day moving average of $15.87 and a 200 day moving average of $14.53. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 2.25.

Institutional Investors Weigh In On EHang

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp grew its position 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 buying an additional 15,781 shares during the last quarter. SteelPeak Wealth LLC raised its holdings in EHang by 70.7% during the 3rd quarter. SteelPeak Wealth LLC now owns 67,110 shares of the company’s stock worth $949,000 after buying an additional 27,805 shares during the period. Verition Fund Management LLC purchased a new stake in EHang during the third quarter valued at about $508,000. XTX Topco Ltd acquired a new position in shares of EHang in the second quarter worth about $383,000. Finally, Quantbot Technologies LP increased 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 acquiring an additional 4,101 shares in the last quarter. 94.03% of the stock is currently owned by institutional investors.

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.