Wall Street Zen Downgrades EHang (NASDAQ:EH) to Sell

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

EH has been the subject of several other reports. Weiss Ratings lowered shares of EHang from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Bank of America reissued a “buy” rating on shares of EHang in a research note on Tuesday. Finally, UBS Group cut shares of EHang from a “buy” rating to a “neutral” rating and set a $11.10 price target on the stock. in a research note on Thursday, June 4th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.05.

EHang Stock Performance

EH opened at $6.63 on Friday. EHang has a 12-month low of $6.49 and a 12-month high of $20.45. The company has a current ratio of 1.87, a quick ratio of 1.93 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $498.05 million, a PE ratio of -12.28 and a beta of 1.13. The firm has a 50 day moving average of $9.88 and a two-hundred day moving average of $11.72.

EHang declared that its board has approved a share repurchase plan on Monday, June 8th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted its position in EHang by 187.6% in the first quarter. Bank of America Corp DE now owns 30,312 shares of the company’s stock valued at $294,000 after buying an additional 19,771 shares during the last quarter. Bessemer Group Inc. acquired a new stake in shares of EHang during the first quarter worth about $51,000. SteelPeak Wealth LLC lifted its position in shares of EHang by 452.6% during the first quarter. SteelPeak Wealth LLC now owns 73,838 shares of the company’s stock worth $717,000 after purchasing an additional 60,476 shares in the last quarter. Leonteq Securities AG lifted its position in shares of EHang by 100.0% during the first quarter. Leonteq Securities AG now owns 4,000 shares of the company’s stock worth $39,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of EHang during the fourth quarter worth about $183,000. Institutional investors and hedge funds own 94.03% of the company’s stock.

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.