EHang (NASDAQ:EH) Shares Gap Up – Should You Buy?

EHang Holdings Limited (NASDAQ:EH)’s share price gapped up prior to trading on Friday . The stock had previously closed at $13.29, but opened at $13.90. EHang shares last traded at $14.27, with a volume of 849,257 shares.

Wall Street Analysts Forecast Growth

EH has been the topic of several research analyst reports. China Renaissance initiated coverage on shares of EHang in a research note on Tuesday, September 24th. They issued a “buy” rating on the stock. UBS Group began coverage on shares of EHang in a research note on Wednesday, August 28th. They issued a “buy” rating and a $22.00 price objective on the stock.

EHang Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 1.99. The stock’s 50 day simple moving average is $15.77 and its two-hundred day simple moving average is $14.82. The stock has a market cap of $892.95 million, a price-to-earnings ratio of -26.04 and a beta of 0.99.

EHang (NASDAQ:EH) last issued its earnings results on Thursday, August 22nd. The company reported ($0.14) EPS for the quarter. EHang had a negative net margin of 73.03% and a negative return on equity of 56.12%. The firm had revenue of $14.04 million during the quarter. During the same quarter in the previous year, the company earned ($0.18) EPS. On average, analysts forecast that EHang Holdings Limited will post -0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EHang

Several institutional investors and hedge funds have recently made changes to their positions in EH. Axim Planning & Wealth raised its holdings in shares of EHang by 12.5% in the second 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 shares of EHang in the second quarter valued at about $883,000. Verition Fund Management LLC bought a new position in shares of EHang in the third quarter valued at about $508,000. XTX Topco Ltd bought a new position in shares of EHang in the second quarter valued at about $383,000. Finally, SteelPeak Wealth LLC raised its holdings in shares of EHang by 70.7% in 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 during the last quarter. 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.