Why EHang Stock Is Gaining Altitude Today
Shares of companies developing electric vertical take-off and landing (eVOTL) aircraft have been hit hard by the recent market sell-off. But at least one investment bank thinks shares of EHang Holdings (NASDAQ: EH) have been hit too hard.
EHang stock climbed as much as 13% on Monday and was up 8% as of 1:30 E.T. after the stock was upgraded to a buy at Deutsche Bank.
EHang is a Chinese company that is one of a number of start-ups racing to commercialize eVTOL technology, a hybrid design that blends the flight capabilities of a helicopter with the stability of a small plane. The battery-powered aircraft are envisioned as a more efficient way to bypass city traffic jams and to feed passengers onto larger aircraft.
Source Fool.com
