EHang (NASDAQ:EH) Receives Underperform Rating from Bank of America

EHang (NASDAQ:EH)‘s stock had its “underperform” rating reiterated by stock analysts at Bank of America in a research report issued on Wednesday,Benzinga reports. They presently have a $5.40 price target on the stock, down from their prior price target of $13.00. Bank of America‘s price target would indicate a potential upside of 0.04% from the company’s current price.

Other analysts have also recently issued research reports about the company. UBS Group cut EHang from a “buy” rating to a “neutral” rating and set a $11.10 price target for the company. in a research report on Thursday, June 4th. Weiss Ratings upgraded EHang from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 29th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $4.40 price target (down from $9.70) on shares of EHang in a report on Monday. Finally, Wall Street Zen cut shares of EHang from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $6.97.

EHang Stock Down 2.2%

Shares of EH stock traded down $0.12 on Wednesday, hitting $5.40. The company’s stock had a trading volume of 693,998 shares, compared to its average volume of 821,295. The stock has a market capitalization of $405.50 million, a price-to-earnings ratio of -9.98 and a beta of 1.13. EHang has a fifty-two week low of $5.38 and a fifty-two week high of $20.45. The firm’s fifty day moving average price is $8.41 and its 200-day moving average price is $10.84. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.87 and a quick ratio of 1.70.

EHang declared that its Board of Directors has approved a share repurchase program on Monday, June 8th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On EHang

Several large investors have recently bought and sold shares of EH. Leonteq Securities AG bought a new stake in EHang in the 4th quarter valued at $26,000. Legal & General Group Plc lifted its stake in shares of EHang by 171.7% in 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 period. Daiwa Securities Group Inc. grew its position in EHang by 47.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,816 shares of the company’s stock worth $63,000 after buying an additional 1,553 shares in the last quarter. Bessemer Group Inc. bought a new position in EHang during the first quarter valued at about $51,000. Finally, Advisory Services Network LLC acquired a new position in EHang in the 3rd quarter valued at approximately $117,000. 94.03% of the stock is currently owned by institutional investors and hedge funds.

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.