EHang (NASDAQ:EH) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of EHang (NASDAQ:EH) from a hold rating to a sell rating in a research report report published on Sunday.

Several other analysts also recently weighed in on EH. JPMorgan Chase & Co. downgraded shares of EHang from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $21.00 to $13.00 in a research report on Tuesday, November 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of EHang in a research note on Wednesday, October 8th. Finally, Dbs Bank started coverage on shares of EHang in a report on Thursday, October 2nd. They set a “buy” rating on the stock. One 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.48.

EHang Price Performance

Shares of NASDAQ EH opened at $14.32 on Friday. EHang has a fifty-two week low of $12.71 and a fifty-two week high of $29.76. The company has a market cap of $1.03 billion, a PE ratio of -25.57 and a beta of 0.48. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.17 and a current ratio of 2.33. The business has a 50-day simple moving average of $14.23 and a two-hundred day simple moving average of $16.45.

Hedge Funds Weigh In On EHang

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EH. JPMorgan Chase & Co. increased its stake in shares of EHang by 15.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,404 shares of the company’s stock worth $156,000 after acquiring an additional 1,112 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of EHang in the third quarter valued at about $117,000. Nomura Holdings Inc. acquired a new stake in EHang during the third quarter worth about $742,000. California Public Employees Retirement System raised its stake in EHang by 8.2% during the third quarter. California Public Employees Retirement System now owns 54,450 shares of the company’s stock worth $1,011,000 after purchasing an additional 4,112 shares during the period. Finally, Bank of America Corp DE boosted its holdings in EHang by 32.2% in the 3rd quarter. Bank of America Corp DE now owns 100,717 shares of the company’s stock valued at $1,870,000 after purchasing an additional 24,540 shares during the last quarter. Institutional investors and hedge funds 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.