EHang (NASDAQ:EH) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of EHang (NASDAQ:EH) from a hold rating to a sell rating in a research note released on Sunday.

A number of other equities research analysts have also commented on EH. JPMorgan Chase & Co. lowered EHang from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $21.00 to $13.00 in a research report on Tuesday, November 25th. Bank of America reiterated a “buy” rating on shares of EHang in a research report on Thursday, March 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of EHang in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, EHang presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.48.

EHang Price Performance

Shares of EHang stock opened at $11.59 on Friday. The stock has a market capitalization of $833.15 million, a price-to-earnings ratio of -26.34 and a beta of 0.96. The firm’s 50-day moving average price is $12.66 and its two-hundred day moving average price is $14.79. The company has a current ratio of 2.12, a quick ratio of 1.98 and a debt-to-equity ratio of 0.07. EHang has a 1-year low of $11.07 and a 1-year high of $25.50.

Hedge Funds Weigh In On EHang

Hedge funds and other institutional investors have recently bought and sold shares of the business. Leonteq Securities AG bought a new stake in shares of EHang during the 4th quarter valued at $26,000. Legal & General Group Plc boosted its position in shares of 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 purchasing an additional 2,136 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of EHang by 47.6% in the 4th 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. Advisory Services Network LLC acquired a new stake in shares of EHang during the third quarter worth $117,000. Finally, JPMorgan Chase & Co. grew its stake in shares of EHang by 10.1% during the second quarter. JPMorgan Chase & Co. now owns 7,292 shares of the company’s stock worth $127,000 after purchasing an additional 671 shares during the period. 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.