EHang (NASDAQ:EH) Shares Up 5.1% - Here's Why

Key Points

• EHang Holdings Limited shares rose by 5.1%, trading at $17.01 after a previous close of $16.18, though trading volume decreased significantly to 358,461 shares.
• Analysts have mixed opinions on the stock, with Bank of America lowering its price target from $26.00 to $24.00, while JPMorgan Chase set an "overweight" rating with a $26.00 target, contributing to a consensus "Buy" rating.
• Institutional investors control 94.03% of EHang's stock, with several sizable new investments made recently, indicating strong confidence in the company's future.

EHang Holdings Limited Unsponsored ADR (NASDAQ:EH - Get Free Report) shares traded up 5.1% during mid-day trading on Friday . The stock traded as high as $16.75 and last traded at $17.01. 358,461 shares changed hands during trading, a decline of 79% from the average session volume of 1,742,861 shares. The stock had previously closed at $16.18.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Bank of America decreased their price objective on EHang from $26.00 to $24.00 and set a "buy" rating on the stock in a report on Tuesday, May 27th. JPMorgan Chase & Co. assumed coverage on EHang in a report on Thursday, August 21st. They set an "overweight" rating and a $26.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $26.08.

EHang Trading Up 3.3%

The stock has a market cap of $1.20 billion, a P/E ratio of -33.50 and a beta of 1.16. The company has a current ratio of 2.50, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average price of $17.46 and a two-hundred day moving average price of $18.10.

Hedge Funds Weigh In On EHang

Large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets bought a new position in shares of EHang during the 4th quarter valued at approximately $428,000. Robeco Institutional Asset Management B.V. bought a new position in EHang in the 1st quarter valued at $1,207,000. Penserra Capital Management LLC bought a new position in EHang in the 1st quarter valued at $405,000. Cetera Investment Advisers bought a new position in EHang in the 1st quarter valued at $754,000. Finally, Mackenzie Financial Corp bought a new position in EHang in the 4th quarter valued at $378,000. Institutional investors 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.

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