EHang (NASDAQ:EH) Stock Price Down 6% – Here’s What Happened

EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) shares traded down 6% during trading on Thursday . The stock traded as low as $8.95 and last traded at $9.1960. 646,298 shares changed hands during trading, an increase of 0% from the average session volume of 644,215 shares. The stock had previously closed at $9.78.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Weiss Ratings downgraded shares of EHang from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. Wall Street Zen raised shares of EHang from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Bank of America reaffirmed a “buy” rating on shares of EHang in a report on Thursday, March 12th. Finally, UBS Group lowered shares of EHang from a “buy” rating to a “neutral” rating and set a $11.10 price target on the stock. in a report on Thursday. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, EHang currently has an average rating of “Hold” and an average price target of $12.05.

EHang Stock Down 6.2%

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.93 and a current ratio of 2.07. The stock has a market capitalization of $688.78 million, a P/E ratio of -20.88 and a beta of 1.13. The stock’s fifty day simple moving average is $10.19 and its two-hundred day simple moving average is $12.05.

Institutional Investors Weigh In On EHang

A number of institutional investors have recently modified their holdings of EH. JPMorgan Chase & Co. boosted its holdings in EHang by 10.1% in the second quarter. JPMorgan Chase & Co. now owns 7,292 shares of the company’s stock worth $127,000 after acquiring an additional 671 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in EHang by 47.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,816 shares of the company’s stock worth $63,000 after purchasing an additional 1,553 shares during the last quarter. Leonteq Securities AG purchased a new position in shares of EHang during the 4th quarter valued at about $26,000. Legal & General Group Plc increased its stake in shares of EHang by 171.7% in the second quarter. Legal & General Group Plc now owns 3,380 shares of the company’s stock worth $59,000 after purchasing an additional 2,136 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of EHang by 5.2% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,677 shares of the company’s stock worth $1,164,000 after purchasing an additional 3,110 shares in the last quarter. 94.03% of the stock is owned by institutional investors.

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.