EHang (NASDAQ:EH) Receives Underperform Rating from Bank of America

Bank of America reiterated their underperform rating on shares of EHang (NASDAQ:EH) in a research report released on Wednesday morning, MarketBeat Ratings reports. The firm currently has a $5.40 target price on the stock, down from their previous target price of $13.00.

A number of other analysts also recently issued reports on the stock. JPMorgan Chase & Co. restated an “underweight” rating and set a $4.40 price objective (down from $9.70) on shares of EHang in a report on Monday. Weiss Ratings upgraded shares of EHang from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 29th. UBS Group downgraded shares of EHang from a “buy” rating to a “neutral” rating and set a $11.10 target price for the company. in a research report on Thursday, June 4th. Finally, Wall Street Zen lowered shares of EHang from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $6.97.

EHang Trading Up 2.0%

NASDAQ EH opened at $5.63 on Wednesday. The business’s fifty day moving average is $8.32 and its 200-day moving average is $10.79. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.87 and a quick ratio of 1.70. The stock has a market capitalization of $422.93 million, a price-to-earnings ratio of -10.43 and a beta of 1.13. EHang has a one year low of $5.32 and a one year high of $20.45.

EHang declared that its Board of Directors has authorized a share repurchase program on Monday, June 8th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of EHang

Several hedge funds and other institutional investors have recently modified their holdings of EH. Leonteq Securities AG purchased a new stake in shares of EHang during the 4th quarter valued at approximately $26,000. Bessemer Group Inc. purchased a new position in EHang in the 1st quarter valued at approximately $51,000. Legal & General Group Plc raised its holdings in EHang by 171.7% during the 2nd quarter. Legal & General Group Plc now owns 3,380 shares of the company’s stock valued at $59,000 after acquiring an additional 2,136 shares during the period. Daiwa Securities Group Inc. raised its holdings in EHang by 47.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,816 shares of the company’s stock valued at $63,000 after acquiring an additional 1,553 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in shares of EHang during the third quarter worth $117,000. Institutional investors own 94.03% of the company’s stock.

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.