EHang (NASDAQ:EH) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of EHang (NASDAQ:EH) from a hold rating to a strong sell rating in a research report report published on Monday,Zacks.com reports.

Several other analysts have also recently issued reports on EH. The Goldman Sachs Group cut shares of EHang from a “buy” rating to a “neutral” rating and set a $7.30 target price on the stock. in a research report on Tuesday. Wall Street Zen cut EHang from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. JPMorgan Chase & Co. restated an “underweight” rating and set a $4.40 price target (down from $9.70) on shares of EHang in a report on Monday, July 6th. Morgan Stanley restated an “overweight” rating on shares of EHang in a report on Thursday, July 9th. Finally, UBS Group downgraded shares of 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. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $7.18.

EHang Trading Up 0.7%

Shares of EH opened at $5.45 on Monday. The stock has a market capitalization of $409.40 million, a PE ratio of -10.09 and a beta of 1.13. The company’s fifty day moving average is $7.99 and its 200 day moving average is $10.56. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.70 and a current ratio of 1.87. EHang has a fifty-two week low of $5.26 and a fifty-two week high of $20.45.

EHang declared that its Board of Directors has initiated a stock repurchase program on Monday, June 8th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in EH. JPMorgan Chase & Co. grew its stake in EHang by 10.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,292 shares of the company’s stock worth $127,000 after buying an additional 671 shares during the last quarter. Daiwa Securities Group Inc. increased 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 in the last quarter. Leonteq Securities AG purchased a new stake in EHang in the fourth quarter valued at about $26,000. Legal & General Group Plc raised its stake in EHang by 171.7% in 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. Finally, California Public Employees Retirement System boosted its holdings in EHang by 8.2% in the third 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 in the last quarter. Hedge funds and other 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.