EHang (NASDAQ:EH) Shares Gap Down After Analyst Downgrade

EHang Holdings Limited (NASDAQ:EH)’s share price gapped down prior to trading on Tuesday after Bank of America lowered their price target on the stock from $26.00 to $24.00. The stock had previously closed at $16.96, but opened at $15.78. Bank of America currently has a buy rating on the stock. EHang shares last traded at $15.68, with a volume of 1,154,239 shares trading hands.

A number of other equities research analysts also recently commented on EH. Daiwa Capital Markets assumed coverage on shares of EHang in a research report on Wednesday, April 2nd. They issued a “buy” rating and a $30.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised EHang from a “hold” rating to a “buy” rating and cut their target price for the stock from $22.00 to $20.00 in a research note on Monday, April 14th. Jefferies Financial Group started coverage on EHang in a research note on Monday, May 5th. They set a “buy” rating and a $30.40 price target on the stock. Finally, Daiwa America raised shares of EHang to a “strong-buy” rating in a research report on Tuesday, April 1st. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $25.28.

Hedge Funds Weigh In On EHang

Institutional investors have recently bought and sold shares of the stock. Natixis bought a new stake in EHang during the 4th quarter valued at approximately $25,000. Tower Research Capital LLC TRC boosted its stake in EHang by 247.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,068 shares of the company’s stock valued at $33,000 after buying an additional 1,472 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of EHang in the 4th quarter valued at $79,000. ABS Direct Equity Fund LLC acquired a new stake in EHang in the first quarter worth about $292,000. Finally, Eschler Asset Management LLP bought a new stake in EHang during the 1st quarter worth about $292,000. 94.03% of the stock is currently owned by institutional investors.

EHang Stock Down 6.5%

The company has a current ratio of 2.39, a quick ratio of 2.25 and a debt-to-equity ratio of 0.01. The company has a market cap of $1.14 billion, a P/E ratio of -29.19 and a beta of 1.10. The firm’s 50 day moving average price is $17.92 and its 200-day moving average price is $18.01.

About EHang

EHang Holdings Limited operates as an autonomous aerial vehicle (AAV) technology platform company in the People's Republic of China, East Asia, West Asia, Europe, and internationally. It designs, develops, manufactures, sells, and operates AAVs, as well as their supporting systems and infrastructure for various industries and applications, including passenger transportation, logistics, smart city management, and aerial media solutions.