EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) Receives Average Recommendation of “Reduce” from Brokerages

Shares of EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) have earned a consensus rating of “Reduce” from the eight research firms that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $7.18.

Several equities research analysts have recently issued reports on EH shares. JPMorgan Chase & Co. restated an “underweight” rating and set a $4.40 price objective (down from $9.70) on shares of EHang in a report on Monday, July 6th. Zacks Research downgraded EHang from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Morgan Stanley reiterated an “overweight” rating on shares of EHang in a research report on Thursday, July 9th. Wall Street Zen lowered EHang from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Bank of America restated an “underperform” rating and issued a $5.40 price target (down from $13.00) on shares of EHang in a report on Wednesday, July 8th.

Institutional Investors Weigh In On EHang

A number of institutional investors have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. raised its stake in EHang by 24.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 55,305 shares of the company’s stock worth $362,000 after purchasing an additional 10,860 shares during the period. Bank of America Corp DE grew its stake in shares of EHang by 187.6% during the 1st quarter. Bank of America Corp DE now owns 30,312 shares of the company’s stock valued at $294,000 after buying an additional 19,771 shares during the period. Bessemer Group Inc. purchased a new stake in shares of EHang during the 1st quarter valued at $51,000. SteelPeak Wealth LLC increased its holdings in shares of EHang by 452.6% during the 1st quarter. SteelPeak Wealth LLC now owns 73,838 shares of the company’s stock worth $717,000 after buying an additional 60,476 shares during the last quarter. Finally, Leonteq Securities AG increased its holdings in shares of EHang by 100.0% during the 1st quarter. Leonteq Securities AG now owns 4,000 shares of the company’s stock worth $39,000 after buying an additional 2,000 shares during the last quarter. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

EHang Stock Down 3.7%

EH stock opened at $5.71 on Tuesday. The company has a 50 day moving average price of $5.92 and a two-hundred day moving average price of $9.12. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.70 and a current ratio of 1.87. The stock has a market capitalization of $428.94 million, a P/E ratio of -10.57 and a beta of 1.19. EHang has a one year low of $4.89 and a one year high of $20.20.

EHang announced that its board has initiated a stock buyback program on Monday, June 8th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

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.