EHang (NASDAQ:EH) Earns “Underweight” Rating from JPMorgan Chase & Co.

EHang (NASDAQ:EH)‘s stock had its “underweight” rating reiterated by equities research analysts at JPMorgan Chase & Co. in a research note issued to investors on Monday,Benzinga reports. They currently have a $4.40 price target on the stock, down from their prior price target of $9.70. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 30.27% from the company’s previous close.

Several other equities research analysts also recently commented on the company. UBS Group downgraded EHang from a “buy” rating to a “neutral” rating and set a $11.10 price objective for the company. in a report on Thursday, June 4th. Wall Street Zen cut shares of EHang from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Weiss Ratings raised shares of EHang from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 29th. Finally, Bank of America reiterated a “buy” rating on shares of EHang in a research report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.75.

EHang Price Performance

EHang stock opened at $6.31 on Monday. The firm has a market cap of $474.01 million, a price-to-earnings ratio of -11.69 and a beta of 1.13. The stock has a fifty day simple moving average of $8.60 and a two-hundred day simple moving average of $10.94. EHang has a 12 month low of $5.97 and a 12 month high of $20.45. The company has a current ratio of 1.87, a quick ratio of 1.70 and a debt-to-equity ratio of 0.10.

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

Hedge Funds Weigh In On EHang

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Leonteq Securities AG bought a new stake in EHang in the 4th quarter valued at $26,000. Bessemer Group Inc. bought a new position in EHang during the first quarter valued at $51,000. Legal & General Group Plc grew its stake in shares of EHang by 171.7% in the 2nd quarter. Legal & General Group Plc now owns 3,380 shares of the company’s stock worth $59,000 after buying an additional 2,136 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of EHang by 47.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,816 shares of the company’s stock worth $63,000 after buying an additional 1,553 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of EHang during the 3rd quarter valued at about $117,000. Institutional investors own 94.03% of the company’s stock.

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.