EHang (NASDAQ:EH) Reaches New 52-Week High – Time to Buy?

EHang Holdings Limited (NASDAQ:EH) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $24.96 and last traded at $24.58, with a volume of 3040611 shares traded. The stock had previously closed at $20.71.

Wall Street Analyst Weigh In

Separately, CICC Research started coverage on shares of EHang in a research report on Thursday, January 2nd. They issued an “outperform” rating for the company.

EHang Stock Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.25 and a current ratio of 2.39. The company has a market cap of $1.58 billion, a P/E ratio of -46.21 and a beta of 0.94. The stock’s fifty day moving average price is $15.89 and its two-hundred day moving average price is $15.05.

Hedge Funds Weigh In On EHang

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank acquired a new position in EHang in the 4th quarter worth about $3,809,000. Vanguard Group Inc. grew its holdings in shares of EHang by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 1,651,515 shares of the company’s stock worth $26,003,000 after purchasing an additional 56,652 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of EHang in the third quarter valued at approximately $508,000. Baader Bank Aktiengesellschaft raised its holdings in EHang by 22.8% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 178,000 shares of the company’s stock valued at $2,803,000 after buying an additional 33,000 shares during the last quarter. Finally, SteelPeak Wealth LLC boosted its position in EHang by 70.7% during the 3rd quarter. SteelPeak Wealth LLC now owns 67,110 shares of the company’s stock worth $949,000 after buying an additional 27,805 shares during the period. Institutional investors own 94.03% of the company’s stock.

EHang Company Profile

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.