EHang (NASDAQ:EH) Trading 6.5% Higher - Time to Buy?

Key Points

• EHang Holdings Limited saw its stock price increase by 6.5% to $20.08 following recent trading, despite a decline in trading volume.
• Research analysts, including Dbs Bank and JPMorgan Chase & Co., have given EHang a buy rating, with an average price target of $26.08.
• Institutional ownership of EHang stands at 94.03%, with significant stake increases reported by several major investors in recent months.

EHang Holdings Limited Unsponsored ADR (NASDAQ:EH - Get Free Report)'s stock price shot up 6.5% during trading on Thursday . The company traded as high as $20.02 and last traded at $20.08. 1,001,795 shares were traded during trading, a decline of 42% from the average session volume of 1,723,784 shares. The stock had previously closed at $18.85.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EH shares. Dbs Bank started coverage on EHang in a research note on Thursday. They issued a "buy" rating for the company. JPMorgan Chase & Co. started coverage on shares of EHang in a research note on Thursday, August 21st. They issued an "overweight" rating and a $26.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $26.08.

EHang Price Performance

The company's 50 day moving average is $17.36 and its 200 day moving average is $17.62. 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 stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -38.56 and a beta of 1.12.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in EH. Legal & General Group Plc increased its stake in shares of EHang by 171.7% during the second quarter. Legal & General Group Plc now owns 3,380 shares of the company's stock worth $59,000 after acquiring an additional 2,136 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of EHang by 3,147.8% during the second quarter. Caitong International Asset Management Co. Ltd now owns 6,528 shares of the company's stock valued at $113,000 after buying an additional 6,327 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of EHang by 10.1% during the second quarter. JPMorgan Chase & Co. now owns 7,292 shares of the company's stock valued at $127,000 after buying an additional 671 shares during the period. Eschler Asset Management LLP purchased a new position in shares of EHang during the first quarter valued at approximately $292,000. Finally, ABS Direct Equity Fund LLC purchased a new position in shares of EHang during the first quarter valued at approximately $292,000. 94.03% of the stock is currently owned by institutional investors and hedge funds.

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.

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