Share Buyback Program Approved by EHang (NASDAQ:EH)

EHang (NASDAQ:EH) announced that its board has approved a stock repurchase plan on Monday, June 8th, RTT News reports. The company plans to repurchase $0.00 in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

EHang Stock Performance

NASDAQ EH traded up $0.82 during trading hours on Monday, hitting $8.71. The company had a trading volume of 1,635,362 shares, compared to its average volume of 914,420. EHang has a fifty-two week low of $7.72 and a fifty-two week high of $20.45. The company has a quick ratio of 1.93, a current ratio of 2.07 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $10.11 and a 200-day simple moving average of $11.92. The firm has a market cap of $654.30 million, a P/E ratio of -19.80 and a beta of 1.13.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EH. Bank of America reiterated a “buy” rating on shares of EHang in a report on Thursday, March 12th. UBS Group cut EHang from a “buy” rating to a “neutral” rating and set a $11.10 price target for the company. in a report on Thursday. Weiss Ratings cut EHang from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Finally, Wall Street Zen upgraded EHang from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $12.05.

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.