EHang (NASDAQ:EH) Cut to Sell at 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 to clients and investors on Sunday.

EH has been the subject of several other research reports. Dbs Bank began coverage on shares of EHang in a report on Thursday, October 2nd. They set a “buy” rating for the company. JPMorgan Chase & Co. cut EHang from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $21.00 to $13.00 in a report on Tuesday, November 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of EHang in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.48.

EHang Trading Down 1.0%

EH stock opened at $13.96 on Friday. EHang has a one year low of $12.71 and a one year high of $29.76. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -24.93 and a beta of 0.48. The company has a fifty day moving average price of $14.34 and a two-hundred day moving average price of $16.49. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.33 and a quick ratio of 2.17.

Institutional Investors Weigh In On EHang

Hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc lifted its position in shares of EHang by 171.7% during the 2nd quarter. Legal & General Group Plc now owns 3,380 shares of the company’s stock worth $59,000 after buying an additional 2,136 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in EHang by 3,147.8% during the second 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 in the last quarter. Advisory Services Network LLC bought a new position in shares of EHang in the third quarter worth about $117,000. JPMorgan Chase & Co. lifted its holdings in shares of 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 acquiring an additional 671 shares during the last quarter. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of EHang in the 3rd quarter valued at approximately $284,000. 94.03% of the stock is currently owned by institutional investors and hedge funds.

About EHang

EHang Holdings Limited is a China-based technology company specializing in the development and manufacturing of autonomous aerial vehicles (AAVs) for passenger transportation, logistics, and other commercial applications. Established in 2014 and listed on NASDAQ under the ticker EH in 2019, EHang focuses on delivering turnkey solutions that integrate hardware, flight control systems and a cloud-based operating platform. Its flagship products include the EH216 series passenger AAV and the Falcon series unmanned aerial vehicles, designed to support urban air mobility, aerial filming, emergency response and short-range cargo delivery.

The company’s business model encompasses research and development, manufacturing, certification support, and operations services.