Share Repurchase Plan Authorized by EHang (NASDAQ:EH) Board of Directors

EHang (NASDAQ:EH) announced that its Board of Directors has initiated a stock repurchase program on Monday, June 8th, RTT News reports. The company plans to repurchase $0.00 in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

EHang Stock Up 10.4%

Shares of EH traded up $0.82 during midday trading on Monday, reaching $8.71. 1,635,362 shares of the stock were exchanged, compared to its average volume of 914,420. EHang has a 12-month low of $7.72 and a 12-month high of $20.45. The firm has a 50 day simple moving average of $10.11 and a 200-day simple moving average of $11.92. The company has a quick ratio of 1.93, a current ratio of 2.07 and a debt-to-equity ratio of 0.08. The company has a market cap of $654.30 million, a price-to-earnings ratio of -19.80 and a beta of 1.13.

Analyst Ratings Changes

EH has been the subject of several research analyst reports. Bank of America reissued a “buy” rating on shares of EHang in a research note on Thursday, March 12th. Weiss Ratings downgraded EHang from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. UBS Group downgraded EHang from a “buy” rating to a “neutral” rating and set a $11.10 price objective for the company. in a research note on Thursday. Finally, Wall Street Zen raised EHang from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. 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’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.05.

EHang Company Profile

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.