EHang (NASDAQ:EH) Announces Earnings Results, Beats Expectations By $0.07 EPS

EHang (NASDAQ:EH) posted its earnings results on Tuesday. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.07, FiscalAI reports. The firm had revenue of $3.72 million during the quarter, compared to the consensus estimate of $8.87 million. EHang had a negative net margin of 44.56% and a negative return on equity of 21.16%.

EHang Stock Up 10.4%

Shares of NASDAQ:EH opened at $8.71 on Tuesday. The company has a quick ratio of 1.93, a current ratio of 2.07 and a debt-to-equity ratio of 0.08. EHang has a 52-week low of $7.72 and a 52-week high of $20.45. The company has a 50 day moving average of $10.11 and a two-hundred day moving average of $11.92. The company has a market capitalization of $654.30 million, a price-to-earnings ratio of -19.80 and a beta of 1.13.

Wall Street Analysts Forecast Growth

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

Institutional Trading of EHang

Several large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in shares of EHang by 11.9% during the first quarter. Goldman Sachs Group Inc. now owns 125,781 shares of the company’s stock worth $2,628,000 after buying an additional 13,376 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of EHang by 10.1% during the second quarter. JPMorgan Chase & Co. now owns 7,292 shares of the company’s stock worth $127,000 after buying an additional 671 shares in the last quarter. Legal & General Group Plc grew 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 buying an additional 2,136 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of EHang during the second quarter worth approximately $300,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of EHang during the second quarter worth approximately $369,000. Institutional investors and hedge funds own 94.03% of the company’s stock.

EHang announced that its Board of Directors has initiated a stock buyback plan on Monday, June 8th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.