EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) have received a consensus recommendation of “Reduce” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $7.18.

EH has been the subject of a number of analyst reports. The Goldman Sachs Group downgraded EHang from a “buy” rating to a “neutral” rating and set a $7.30 price target for the company. in a research report on Tuesday, July 14th. Morgan Stanley reaffirmed an “overweight” rating on shares of EHang in a research note on Thursday, July 9th. 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, July 6th. Bank of America reissued an “underperform” rating and issued a $5.40 price objective (down from $13.00) on shares of EHang in a research report on Wednesday, July 8th. Finally, Weiss Ratings downgraded shares of EHang from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 14th.

EHang Trading Down 2.9%

Shares of EH stock opened at $5.09 on Friday. The company has a market cap of $382.36 million, a PE ratio of -9.43 and a beta of 1.13. EHang has a 1 year low of $4.99 and a 1 year high of $20.45. The stock’s 50 day simple moving average is $7.30 and its two-hundred day simple moving average is $10.16. 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 has approved a share repurchase plan 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. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On EHang

A number of institutional investors and hedge funds have recently modified their holdings of the business. Baillie Gifford & Co. bought a new position in EHang in the 4th quarter valued at $10,204,000. Norges Bank bought a new stake in shares of EHang during the fourth quarter worth $7,131,000. Tiger Pacific Capital LP bought a new stake in shares of EHang during the third quarter worth $8,948,000. Fideuram Asset Management Ireland dac purchased a new stake in shares of EHang during the fourth quarter valued at $2,591,000. Finally, UBS Group AG boosted its stake in shares of EHang by 19.0% during the fourth quarter. UBS Group AG now owns 941,689 shares of the company’s stock valued at $12,411,000 after purchasing an additional 150,567 shares during the period. 94.03% of the stock is owned by 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.