EHang (NASDAQ:EH) Shares Gap Up – Time to Buy?

Shares of EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) gapped up prior to trading 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.

Analyst Ratings Changes

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

EHang Stock Performance

The company has a market capitalization of $666.47 million, a P/E ratio of -19.99 and a beta of 1.13. The stock has a fifty day simple moving average of $10.13 and a 200-day simple moving average of $11.96. The company has a quick ratio of 1.93, a current ratio of 2.07 and a debt-to-equity ratio of 0.08.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EH. Leonteq Securities AG bought a new position in shares of EHang in the fourth quarter valued at about $26,000. Bessemer Group Inc. bought a new position in shares of EHang in the first quarter valued at about $51,000. Legal & General Group Plc raised its holdings in shares of EHang by 171.7% in the second quarter. Legal & General Group Plc now owns 3,380 shares of the company’s stock valued at $59,000 after buying an additional 2,136 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of EHang by 47.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,816 shares of the company’s stock valued at $63,000 after buying an additional 1,553 shares during the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of EHang in the third quarter valued at about $117,000. 94.03% of the stock is owned by institutional investors.

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.