EHang (NASDAQ:EH) Downgraded to “Strong Sell” Rating by Zacks Research

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

EH has been the topic of a number of other research reports. Weiss Ratings upgraded shares of EHang from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 29th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $4.40 target price (down from $9.70) on shares of EHang in a research report on Monday, July 6th. UBS Group lowered 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. The Goldman Sachs Group downgraded EHang from a “buy” rating to a “neutral” rating and set a $7.30 price target on the stock. in a research note on Tuesday. Finally, Wall Street Zen lowered EHang from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $7.18.

EHang Stock Performance

Shares of NASDAQ EH opened at $5.45 on Monday. The firm’s 50-day moving average price is $7.99 and its 200-day moving average price is $10.56. The company has a quick ratio of 1.70, a current ratio of 1.87 and a debt-to-equity ratio of 0.10. The company has a market cap of $409.40 million, a PE ratio of -10.09 and a beta of 1.13. EHang has a 52-week low of $5.26 and a 52-week high of $20.45.

EHang declared that its Board of Directors has authorized a stock buyback program on Monday, June 8th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On EHang

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. raised its holdings in EHang by 24.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 55,305 shares of the company’s stock worth $362,000 after purchasing an additional 10,860 shares during the period. Bank of America Corp DE grew its holdings in EHang by 187.6% during the first quarter. Bank of America Corp DE now owns 30,312 shares of the company’s stock valued at $294,000 after purchasing an additional 19,771 shares during the period. Bessemer Group Inc. bought a new stake in EHang during the first quarter valued at about $51,000. SteelPeak Wealth LLC increased its position in EHang by 452.6% in the first quarter. SteelPeak Wealth LLC now owns 73,838 shares of the company’s stock worth $717,000 after buying an additional 60,476 shares in the last quarter. Finally, Leonteq Securities AG increased its position in EHang by 100.0% in the first quarter. Leonteq Securities AG now owns 4,000 shares of the company’s stock worth $39,000 after buying an additional 2,000 shares in the last quarter. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

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.