EHang (NASDAQ:EH) Announces Earnings Results

EHang (NASDAQ:EH) posted its quarterly earnings results on Tuesday. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02, FiscalAI reports. The company had revenue of $11.46 million for the quarter, compared to the consensus estimate of $16.50 million. EHang had a negative return on equity of 25.77% and a negative net margin of 54.89%.

EHang Stock Down 5.6%

EH stock opened at $5.20 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.87 and a quick ratio of 1.70. The stock has a market capitalization of $390.62 million, a P/E ratio of -9.63 and a beta of 1.19. EHang has a fifty-two week low of $4.89 and a fifty-two week high of $20.20. The business has a 50-day moving average of $5.78 and a 200-day moving average of $8.87.

Hedge Funds Weigh In On EHang

Large investors have recently bought and sold shares of the company. Virtu Financial LLC bought a new position in shares of EHang during the 4th quarter worth approximately $183,000. Vident Advisory LLC acquired a new position in EHang during the fourth quarter worth $1,653,000. Millennium Management LLC acquired a new position in EHang during the fourth quarter worth $885,000. Schonfeld Strategic Advisors LLC bought a new position in EHang in the fourth quarter valued at $220,000. Finally, FIL Ltd increased its stake in EHang by 2.9% in the 4th quarter. FIL Ltd now owns 1,402,092 shares of the company’s stock valued at $18,480,000 after buying an additional 39,256 shares during the last quarter. Institutional investors and hedge funds own 94.03% of the company’s stock.

EHang declared that its Board of Directors has authorized a share buyback program on Monday, June 8th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

EH has been the topic of several recent analyst reports. Wall Street Zen lowered shares of EHang from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Bank of America reiterated an “underperform” rating and issued a $5.40 target price (down from $13.00) on shares of EHang in a report on Wednesday, July 8th. The Goldman Sachs Group cut shares of EHang from a “buy” rating to a “neutral” rating and set a $7.30 price target on the stock. in a research report on Tuesday, July 14th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $4.40 price target (down from $9.70) on shares of EHang in a report on Monday, July 6th. Finally, Weiss Ratings downgraded EHang from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 14th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $7.18.

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.