EHang (NASDAQ:EH) Now Covered by Analysts at Bank of America

Analysts at Bank of America started coverage on shares of EHang (NASDAQ:EH) in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $26.00 price target on the stock. Bank of America‘s target price points to a potential upside of 36.20% from the stock’s previous close.

EH has been the subject of several other reports. Deutsche Bank Aktiengesellschaft raised shares of EHang from a “hold” rating to a “buy” rating and lowered their target price for the stock from $22.00 to $20.00 in a research note on Monday, April 14th. Jefferies Financial Group began coverage on shares of EHang in a research note on Monday, May 5th. They set a “buy” rating and a $30.40 price objective for the company. Daiwa America raised shares of EHang to a “strong-buy” rating in a research note on Tuesday, April 1st. Finally, Daiwa Capital Markets began coverage on shares of EHang in a research note on Wednesday, April 2nd. They set a “buy” rating and a $30.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $25.68.

EHang Stock Down 3.9%

EH stock opened at $19.09 on Wednesday. The stock has a market capitalization of $1.37 billion, a P/E ratio of -35.35 and a beta of 1.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.25 and a current ratio of 2.39. EHang has a one year low of $10.40 and a one year high of $29.76. The company has a 50 day moving average price of $18.74 and a two-hundred day moving average price of $17.98.

Institutional Trading of EHang

Institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC boosted its position in EHang by 517.1% during the 1st quarter. Cubist Systematic Strategies LLC now owns 684,103 shares of the company’s stock worth $14,291,000 after purchasing an additional 573,248 shares during the period. Canada Pension Plan Investment Board purchased a new stake in EHang during the 1st quarter worth $8,162,000. Trexquant Investment LP purchased a new stake in EHang during the 1st quarter worth $615,000. Quantbot Technologies LP purchased a new stake in EHang during the 1st quarter worth $818,000. Finally, Invesco Ltd. boosted its position in EHang by 3.8% during the 1st quarter. Invesco Ltd. now owns 41,317 shares of the company’s stock worth $863,000 after purchasing an additional 1,497 shares during the period. 94.03% of the stock is owned by hedge funds and other institutional investors.

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.