EHang (NASDAQ:EH) Given Underweight Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their underweight rating on shares of EHang (NASDAQ:EH) in a research note issued to investors on Monday, Marketbeat Ratings reports. JPMorgan Chase & Co. currently has a $4.40 target price on the stock, down from their prior target price of $9.70.

EH has been the subject of a number of other reports. UBS Group downgraded shares of EHang from a “buy” rating to a “neutral” rating and set a $11.10 price target for the company. in a report on Thursday, June 4th. Wall Street Zen downgraded EHang from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Weiss Ratings upgraded shares of EHang from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 29th. Finally, Bank of America reissued a “buy” rating on shares of EHang in a research note on Tuesday, June 9th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.75.

EHang Stock Up 1.6%

EH stock opened at $5.88 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.87 and a quick ratio of 1.70. EHang has a 12 month low of $5.38 and a 12 month high of $20.45. The firm has a market capitalization of $441.33 million, a PE ratio of -10.73 and a beta of 1.13. The company’s 50 day simple moving average is $8.60 and its 200-day simple moving average is $10.94.

EHang announced that its Board of Directors has authorized a stock repurchase plan on Monday, June 8th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On EHang

Several institutional investors and hedge funds have recently made changes to their positions in the business. Leonteq Securities AG bought a new stake in shares of EHang in the fourth quarter worth $26,000. Bessemer Group Inc. acquired a new position in EHang during the 1st quarter worth $51,000. Legal & General Group Plc increased its position in shares of EHang by 171.7% in the 2nd quarter. Legal & General Group Plc now owns 3,380 shares of the company’s stock worth $59,000 after purchasing an additional 2,136 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of EHang by 47.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,816 shares of the company’s stock valued at $63,000 after purchasing an additional 1,553 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of EHang in the 3rd quarter valued at about $117,000. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

EHang Company Profile

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.