Zacks Research Downgrades EHang (NASDAQ:EH) to Strong Sell

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

A number of other brokerages have also weighed in on EH. Morgan Stanley reaffirmed an “overweight” rating on shares of EHang in a research note on Thursday, July 9th. Bank of America reaffirmed an “underperform” rating and set a $5.40 price objective (down from $13.00) on shares of EHang in a research report on Wednesday, July 8th. UBS Group downgraded EHang from a “buy” rating to a “neutral” rating and set a $11.10 target price on the stock. in a report on Thursday, June 4th. Wall Street Zen cut EHang from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, The Goldman Sachs Group lowered EHang from a “buy” rating to a “neutral” rating and set a $7.30 price target on the stock. in a research report on Tuesday. 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 MarketBeat, EHang presently has a consensus rating of “Reduce” and an average target price of $7.18.

EHang Stock Up 0.7%

Shares of EHang stock opened at $5.45 on Monday. The company has a current ratio of 1.87, a quick ratio of 1.70 and a debt-to-equity ratio of 0.10. EHang has a 12-month low of $5.26 and a 12-month high of $20.45. The company has a market cap of $409.40 million, a P/E ratio of -10.09 and a beta of 1.13. The company’s fifty day simple moving average is $7.99 and its two-hundred day simple moving average is $10.56.

EHang declared that its board has initiated a stock repurchase program on Monday, June 8th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On EHang

A number of hedge funds have recently bought and sold shares of EH. Leonteq Securities AG bought a new stake in EHang during the 4th quarter valued at about $26,000. Legal & General Group Plc grew its holdings 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 valued at $59,000 after buying an additional 2,136 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of EHang by 47.6% during the fourth 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 in the last quarter. Bessemer Group Inc. bought a new position in EHang in the 1st quarter valued at approximately $51,000. Finally, Advisory Services Network LLC purchased a new stake in EHang during the 3rd quarter valued at $117,000. 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.