EHang (NASDAQ:EH) Cut to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of EHang (NASDAQ:EH) from an overweight rating to a neutral rating in a research note issued to investors on Tuesday morning, MarketBeat reports. The brokerage currently has $13.00 price objective on the stock, down from their prior price objective of $21.00.

Several other research firms also recently weighed in on EH. Dbs Bank started coverage on shares of EHang in a research report on Thursday, October 2nd. They set a “buy” rating for the company. Wall Street Zen raised EHang from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of EHang in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.48.

EHang Price Performance

Shares of NASDAQ EH opened at $13.63 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 2.50. The firm has a fifty day moving average of $17.10 and a 200 day moving average of $17.20. The firm has a market cap of $979.86 million, a PE ratio of -24.34 and a beta of 1.11. EHang has a one year low of $12.71 and a one year high of $29.76.

Institutional Investors Weigh In On EHang

Large investors have recently made changes to their positions in the stock. Legal & General Group Plc increased its holdings in shares of EHang by 171.7% in the second quarter. Legal & General Group Plc now owns 3,380 shares of the company’s stock valued at $59,000 after purchasing an additional 2,136 shares during the last quarter. Advisory Services Network LLC purchased a new stake in EHang in the 3rd quarter valued at $117,000. Caitong International Asset Management Co. Ltd increased its stake in shares of EHang by 3,147.8% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 6,528 shares of the company’s stock worth $113,000 after acquiring an additional 6,327 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of EHang by 10.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,292 shares of the company’s stock worth $127,000 after acquiring an additional 671 shares during the period. Finally, Eschler Asset Management LLP acquired a new position in shares of EHang during the 1st quarter valued at about $292,000. 94.03% of the stock is currently 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.