EHang (NASDAQ:EH) Stock Rating Lowered by Zacks Research

EHang (NASDAQ:EH) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

A number of other research firms also recently commented on EH. The Goldman Sachs Group downgraded shares of EHang from a “buy” rating to a “neutral” rating and set a $7.30 price objective for the company. in a research note on Tuesday. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $4.40 price target (down from $9.70) on shares of EHang in a research report on Monday, July 6th. Morgan Stanley reaffirmed an “overweight” rating on shares of EHang in a research note on Thursday, July 9th. Wall Street Zen lowered shares of EHang from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Finally, UBS Group cut shares of EHang from a “buy” rating to a “neutral” rating and set a $11.10 price objective for the company. in a research note on Thursday, June 4th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $7.18.

EHang Stock Up 0.7%

EH stock opened at $5.45 on Monday. The company has a 50 day moving average price of $7.99 and a two-hundred day moving average price of $10.56. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.70 and a current ratio of 1.87. The stock has a market capitalization of $409.40 million, a P/E ratio of -10.09 and a beta of 1.13. EHang has a one year low of $5.26 and a one year high of $20.45.

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

Institutional Investors Weigh In On EHang

Several institutional investors and hedge funds have recently modified their holdings of the stock. Leonteq Securities AG acquired a new position in EHang during the 4th quarter worth approximately $26,000. Bessemer Group Inc. purchased a new stake in shares of EHang during the first quarter valued at approximately $51,000. Legal & General Group Plc lifted its position in shares of EHang by 171.7% during the second 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 in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of EHang by 47.6% in the fourth 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 during the period. Finally, Advisory Services Network LLC acquired a new stake in EHang during the 3rd quarter valued at $117,000. Hedge funds and other institutional investors 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.