EHang (NASDAQ:EH) Reaches New 12-Month Low – Time to Sell?

EHang Holdings Limited Unsponsored ADR (NASDAQ:EH)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $11.07 and last traded at $11.33, with a volume of 419849 shares changing hands. The stock had previously closed at $12.22.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of EHang in a report on Wednesday, January 21st. JPMorgan Chase & Co. lowered EHang from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $21.00 to $13.00 in a research report on Tuesday, November 25th. Finally, Wall Street Zen downgraded EHang from a “hold” rating to a “sell” rating in a report on Sunday, January 11th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, EHang presently has an average rating of “Moderate Buy” and a consensus target price of $23.48.

EHang Trading Down 7.7%

The company’s 50-day moving average is $13.07 and its 200 day moving average is $15.21. The company has a market cap of $810.92 million, a price-to-earnings ratio of -20.14 and a beta of 0.96. The company has a quick ratio of 2.17, a current ratio of 2.33 and a debt-to-equity ratio of 0.08.

Institutional Trading of EHang

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. acquired a new position in EHang during the 4th quarter worth approximately $10,204,000. Norges Bank purchased a new stake in EHang during the 4th quarter worth about $7,131,000. Tiger Pacific Capital LP purchased a new position in shares of EHang in the 3rd quarter valued at about $8,948,000. Carrhae Capital LLP acquired a new stake in shares of EHang during the 2nd quarter worth about $4,717,000. Finally, Fideuram Asset Management Ireland dac purchased a new stake in EHang during the fourth quarter worth approximately $2,591,000. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

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.