EHang (NASDAQ:EH) Sees Strong Trading Volume – Time to Buy?

Shares of EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) saw strong trading volume on Friday . 712,563 shares were traded during mid-day trading, an increase of 9% from the previous session’s volume of 652,289 shares.The stock last traded at $8.4390 and had previously closed at $9.23.

Wall Street Analysts Forecast Growth

EH has been the subject of several analyst reports. Wall Street Zen upgraded EHang from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Bank of America reissued a “buy” rating on shares of EHang in a report on Thursday, March 12th. UBS Group downgraded EHang from a “buy” rating to a “neutral” rating and set a $11.10 price objective on the stock. in a research note on Thursday. Finally, Weiss Ratings cut EHang from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.05.

EHang Price Performance

The firm has a 50-day moving average of $10.18 and a 200-day moving average of $12.01. The stock has a market cap of $598.34 million, a PE ratio of -18.10 and a beta of 1.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.07 and a quick ratio of 1.93.

Hedge Funds Weigh In On EHang

Large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its holdings in EHang by 11.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 125,781 shares of the company’s stock valued at $2,628,000 after buying an additional 13,376 shares during the period. JPMorgan Chase & Co. grew its position in shares of EHang by 10.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,292 shares of the company’s stock worth $127,000 after buying an additional 671 shares in the last quarter. Legal & General Group Plc increased its position in EHang by 171.7% during the 2nd quarter. Legal & General Group Plc now owns 3,380 shares of the company’s stock valued at $59,000 after purchasing an additional 2,136 shares during the period. Hsbc Holdings PLC bought a new position in EHang in the second quarter worth approximately $300,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of EHang during the 2nd quarter worth $369,000. Institutional investors own 94.03% of the company’s stock.

About EHang

EHang Holdings Limited is a China-based technology company specializing in the development and manufacturing of autonomous aerial vehicles (AAVs) for passenger transportation, logistics, and other commercial applications. Established in 2014 and listed on NASDAQ under the ticker EH in 2019, EHang focuses on delivering turnkey solutions that integrate hardware, flight control systems and a cloud-based operating platform. Its flagship products include the EH216 series passenger AAV and the Falcon series unmanned aerial vehicles, designed to support urban air mobility, aerial filming, emergency response and short-range cargo delivery.

The company’s business model encompasses research and development, manufacturing, certification support, and operations services.