EHang (NASDAQ:EH) Stock Price Up 3.1% – Should You Buy?

EHang Holdings Limited (NASDAQ:EH) was up 3.1% during mid-day trading on Monday . The company traded as high as $21.21 and last traded at $21.39. Approximately 927,813 shares traded hands during trading, a decline of 44% from the average daily volume of 1,647,748 shares. The stock had previously closed at $20.75.

Analyst Upgrades and Downgrades

Separately, CICC Research initiated coverage on EHang in a report on Thursday, January 2nd. They issued an “outperform” rating on the stock.

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 has a market capitalization of $1.32 billion, a price-to-earnings ratio of -38.40 and a beta of 0.91. The firm’s fifty day moving average price is $21.45 and its 200 day moving average price is $17.55.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. grew its holdings in shares of EHang by 2.9% in the fourth quarter. Invesco Ltd. now owns 39,820 shares of the company’s stock valued at $627,000 after purchasing an additional 1,112 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of EHang by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 27,752 shares of the company’s stock worth $437,000 after acquiring an additional 1,313 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of EHang by 247.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,068 shares of the company’s stock worth $33,000 after acquiring an additional 1,472 shares in the last quarter. Natixis acquired a new stake in shares of EHang in the fourth quarter valued at $25,000. Finally, Quantbot Technologies LP raised its stake in shares of EHang by 78.2% in the third quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock valued at $132,000 after acquiring an additional 4,101 shares in the last quarter. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

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.