EHang (NASDAQ:EH) Sets New 52-Week Low – Should You Sell?

EHang Holdings Limited Unsponsored ADR (NASDAQ:EH)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $6.46 and last traded at $6.50, with a volume of 1082889 shares traded. The stock had previously closed at $6.84.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Bank of America restated a “buy” rating on shares of EHang in a research note on Tuesday, June 9th. Weiss Ratings downgraded shares of EHang from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Wall Street Zen lowered shares of EHang from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Finally, UBS Group cut shares of EHang from a “buy” rating to a “neutral” rating and set a $11.10 target price for the company. in a research note on Thursday, June 4th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $12.05.

EHang Price Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.70 and a current ratio of 1.87. The firm has a fifty day simple moving average of $9.28 and a two-hundred day simple moving average of $11.32. The firm has a market cap of $472.13 million, a PE ratio of -11.68 and a beta of 1.13.

EHang declared that its board has approved a share repurchase plan on Monday, June 8th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On EHang

A number of hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its stake in shares of EHang by 11.9% in the 1st 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. raised its position in shares of EHang by 10.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,292 shares of the company’s stock valued at $127,000 after buying an additional 671 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of EHang by 171.7% in the 2nd quarter. Legal & General Group Plc now owns 3,380 shares of the company’s stock valued at $59,000 after acquiring an additional 2,136 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of EHang in the 2nd quarter valued at about $300,000. Finally, Raymond James Financial Inc. purchased a new position in EHang in the second quarter worth about $369,000. Hedge funds and other institutional investors own 94.03% of the company’s stock.

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.