EHang (NASDAQ:EH) Trading Up 7.5% - What's Next?

EHang Holdings Limited (NASDAQ:EH - Get Free Report) rose 7.5% during trading on Friday . The stock traded as high as $18.88 and last traded at $18.49. Approximately 603,672 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 2,014,775 shares. The stock had previously closed at $17.20.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of EHang from a "hold" rating to a "buy" rating and lowered their target price for the stock from $22.00 to $20.00 in a research report on Monday, April 14th. Daiwa America upgraded EHang to a "strong-buy" rating in a report on Tuesday, April 1st. Finally, Daiwa Capital Markets began coverage on EHang in a report on Wednesday, April 2nd. They set a "buy" rating and a $30.00 price objective for the company. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $24.88.

EHang Stock Performance

The company has a current ratio of 2.39, a quick ratio of 2.25 and a debt-to-equity ratio of 0.01. The stock's 50 day moving average price is $19.41 and its two-hundred day moving average price is $17.85. The firm has a market capitalization of $1.20 billion, a PE ratio of -34.85 and a beta of 0.99.

Hedge Funds Weigh In On EHang

A number of institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in EHang in the 4th quarter valued at $3,809,000. Lighthouse Investment Partners LLC acquired a new stake in EHang in the 4th quarter worth about $1,977,000. Cubist Systematic Strategies LLC grew its holdings in EHang by 151.2% in the 4th quarter. Cubist Systematic Strategies LLC now owns 110,855 shares of the company's stock valued at $1,745,000 after buying an additional 66,724 shares during the period. Robeco Institutional Asset Management B.V. acquired a new position in shares of EHang during the 1st quarter valued at about $1,207,000. Finally, Vanguard Group Inc. lifted its holdings in shares of EHang by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 1,651,515 shares of the company's stock worth $26,003,000 after acquiring an additional 56,652 shares during the period. 94.03% of the stock is 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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