EHang (NASDAQ:EH) Sets New 52-Week Low – Here’s Why

EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) reached a new 52-week low during trading on Tuesday . The stock traded as low as $6.46 and last traded at $6.50, with a volume of 1082889 shares traded. The stock had previously closed at $6.84.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EH. UBS Group cut EHang from a “buy” rating to a “neutral” rating and set a $11.10 price objective on the stock. in a research report on Thursday, June 4th. Bank of America reissued a “buy” rating on shares of EHang in a report on Tuesday, June 9th. Weiss Ratings downgraded shares of EHang from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Finally, Wall Street Zen downgraded shares of EHang from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.05.

EHang Stock Down 5.0%

The company has a quick ratio of 1.70, a current ratio of 1.87 and a debt-to-equity ratio of 0.10. The stock has a 50 day simple moving average of $9.45 and a 200-day simple moving average of $11.42.

EHang declared that its Board of Directors has approved a stock buyback plan on Monday, June 8th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of EHang

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its holdings in shares of EHang by 11.9% in the first quarter. Goldman Sachs Group Inc. now owns 125,781 shares of the company’s stock worth $2,628,000 after purchasing an additional 13,376 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in EHang by 10.1% during the second quarter. JPMorgan Chase & Co. now owns 7,292 shares of the company’s stock valued at $127,000 after buying an additional 671 shares during the last quarter. Legal & General Group Plc boosted its stake in EHang by 171.7% during the second quarter. Legal & General Group Plc now owns 3,380 shares of the company’s stock valued at $59,000 after buying an additional 2,136 shares during the last quarter. Hsbc Holdings PLC purchased a new position in EHang during the 2nd quarter valued at approximately $300,000. Finally, Raymond James Financial Inc. bought a new stake in EHang in the 2nd quarter worth approximately $369,000. 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.