EHang (NASDAQ:EH) Lowered to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of EHang (NASDAQ:EH) from a sell rating to a strong sell rating in a report released on Saturday,Wall Street Zen reports.

Several other research firms have also issued reports on EH. UBS Group lowered EHang from a “buy” rating to a “neutral” rating and set a $11.10 price objective for the company. in a research note on Thursday, June 4th. The Goldman Sachs Group lowered EHang from a “buy” rating to a “neutral” rating and set a $7.30 target price on the stock. in a research note on Tuesday, July 14th. Dbs Bank cut EHang from a “buy” rating to a “hold” rating in a report on Friday, August 28th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $4.40 price target (down from $9.70) on shares of EHang in a research report on Monday, July 6th. Finally, Morgan Stanley reissued an “overweight” rating on shares of EHang in a report on Thursday, July 9th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, EHang presently has a consensus rating of “Reduce” and an average target price of $7.18.

EHang Stock Performance

EHang stock opened at $4.53 on Friday. EHang has a 1-year low of $4.34 and a 1-year high of $20.20. The company has a current ratio of 1.84, a quick ratio of 1.65 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $340.29 million, a PE ratio of -7.31 and a beta of 1.17. The firm’s 50 day simple moving average is $5.22 and its 200 day simple moving average is $8.18.

EHang (NASDAQ:EH) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.11) EPS for the quarter. The firm had revenue of $11.46 million during the quarter. EHang had a negative net margin of 74.74% and a negative return on equity of 32.73%. As a group, analysts expect that EHang will post -0.79 earnings per share for the current fiscal year.

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

Institutional Trading of EHang

A number of hedge funds have recently bought and sold shares of EH. JPMorgan Chase & Co. raised its holdings in EHang by 10.1% during the 2nd 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. Daiwa Securities Group Inc. boosted its position in EHang by 47.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,816 shares of the company’s stock valued at $63,000 after buying an additional 1,553 shares during the period. Leonteq Securities AG bought a new stake in EHang in the 4th quarter worth $26,000. Legal & General Group Plc grew its holdings in 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 acquiring an additional 2,136 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in EHang by 8.2% in the 3rd quarter. California Public Employees Retirement System now owns 54,450 shares of the company’s stock worth $1,011,000 after acquiring an additional 4,112 shares during the last quarter. Institutional investors own 94.03% of the company’s stock.

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.