EHang (NASDAQ:EH) Shares Gap Up – Still a Buy?

Shares of EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) gapped up before the market opened on Monday . The stock had previously closed at $7.89, but opened at $8.49. EHang shares last traded at $8.5150, with a volume of 365,802 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have commented on EH shares. UBS Group downgraded EHang from a “buy” rating to a “neutral” rating and set a $11.10 price target on the stock. in a report on Thursday. Weiss Ratings downgraded EHang from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Bank of America reiterated a “buy” rating on shares of EHang in a report on Thursday, March 12th. Finally, Wall Street Zen upgraded EHang from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $12.05.

EHang Stock Performance

The firm’s 50 day moving average price is $10.13 and its 200-day moving average price is $11.96. The firm has a market cap of $666.47 million, a price-to-earnings ratio of -19.99 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.

Institutional Investors Weigh In On EHang

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Leonteq Securities AG bought a new position in EHang in the fourth quarter worth $26,000. Bessemer Group Inc. bought a new position in EHang in the first quarter worth $51,000. Legal & General Group Plc lifted its position in EHang by 171.7% in the second quarter. Legal & General Group Plc now owns 3,380 shares of the company’s stock worth $59,000 after purchasing an additional 2,136 shares during the period. Daiwa Securities Group Inc. lifted its position in EHang by 47.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,816 shares of the company’s stock worth $63,000 after purchasing an additional 1,553 shares during the period. Finally, Advisory Services Network LLC bought a new position in EHang in the third quarter worth $117,000. Institutional investors and hedge funds own 94.03% of the company’s stock.

EHang Company Profile

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.