EHang (NASDAQ:EH) Downgraded to “Sell” Rating by Wall Street Zen

EHang (NASDAQ:EH) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Friday.

Several other equities analysts have also recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EHang in a research note on Wednesday, October 8th. JPMorgan Chase & Co. downgraded shares of EHang from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $21.00 to $13.00 in a research report on Tuesday. Finally, Dbs Bank started coverage on shares of EHang in a research note on Thursday, October 2nd. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.48.

EHang Stock Performance

EH opened at $14.37 on Friday. The company has a quick ratio of 2.32, a current ratio of 2.50 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.03 billion, a PE ratio of -25.65 and a beta of 1.11. The business has a fifty day simple moving average of $17.03 and a 200-day simple moving average of $17.16. EHang has a fifty-two week low of $12.71 and a fifty-two week high of $29.76.

Institutional Trading of EHang

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

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.