Brokerages Set EHang Holdings Limited (NASDAQ:EH) PT at $26.50

EHang Holdings Limited (NASDAQ:EH) has been assigned a consensus recommendation of “Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $26.50.

Several research firms have commented on EH. CICC Research started coverage on shares of EHang in a research note on Thursday, January 2nd. They set an “outperform” rating for the company. Daiwa America upgraded EHang to a “strong-buy” rating in a research note on Tuesday, April 1st. Finally, Daiwa Capital Markets initiated coverage on EHang in a research note on Wednesday. They set a “buy” rating and a $30.00 price target on the stock.

EHang Stock Performance

NASDAQ:EH opened at $16.73 on Thursday. EHang has a 1 year low of $10.40 and a 1 year high of $29.76. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -30.98 and a beta of 0.99. The stock’s 50 day simple moving average is $21.78 and its two-hundred day simple moving average is $17.76. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 2.25.

Hedge Funds Weigh In On EHang

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Natixis purchased a new position in EHang during the 4th quarter valued at about $25,000. Tower Research Capital LLC TRC lifted its stake in EHang by 247.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,068 shares of the company’s stock valued at $33,000 after buying an additional 1,472 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in EHang in the 4th quarter valued at $79,000. Point72 Asset Management L.P. acquired a new position in EHang during the third quarter worth $104,000. Finally, Point72 Hong Kong Ltd purchased a new position in EHang in the 3rd quarter valued at approximately $118,000. Institutional investors and hedge funds own 94.03% of the company’s stock.

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.