CICC Research Initiates Coverage on EHang (NASDAQ:EH)

Analysts at CICC Research started coverage on shares of EHang (NASDAQ:EH) in a research note issued on Thursday,Benzinga reports. The brokerage set an “outperform” rating on the stock.

Separately, China Renaissance assumed coverage on EHang in a research note on Tuesday, September 24th. They set a “buy” rating for the company.

EHang Stock Performance

Shares of EH stock opened at $15.74 on Thursday. EHang has a 1 year low of $9.51 and a 1 year high of $22.98. 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 firm has a market cap of $999.58 million, a price-to-earnings ratio of -29.15 and a beta of 0.94. The stock’s 50-day moving average is $15.79 and its two-hundred day moving average is $14.55.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. State Street Corp raised its position in shares of EHang by 1.2% during the 3rd quarter. State Street Corp now owns 1,299,186 shares of the company’s stock worth $18,370,000 after purchasing an additional 15,781 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of EHang in the third quarter worth $104,000. Point72 Hong Kong Ltd acquired a new position in shares of EHang in the third quarter worth $118,000. Verition Fund Management LLC acquired a new stake in shares of EHang during the third quarter valued at $508,000. Finally, Quantbot Technologies LP increased its position in EHang by 78.2% during the 3rd quarter. Quantbot Technologies LP now owns 9,348 shares of the company’s stock worth $132,000 after purchasing an additional 4,101 shares in the last quarter. Hedge funds and other institutional investors 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.