EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) Given Average Rating of “Reduce” by Analysts

Shares of EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) have been assigned a consensus rating of “Reduce” from the eight brokerages that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $7.18.

EH has been the subject of several recent research reports. UBS Group downgraded shares of EHang from a “buy” rating to a “neutral” rating and set a $11.10 target price for the company. in a report on Thursday, June 4th. The Goldman Sachs Group lowered shares of EHang from a “buy” rating to a “neutral” rating and set a $7.30 price target on the stock. in a research report on Tuesday, July 14th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $4.40 price objective (down from $9.70) on shares of EHang in a research note 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. Finally, Bank of America reaffirmed an “underperform” rating and issued a $5.40 target price (down from $13.00) on shares of EHang in a research note on Wednesday, July 8th.

Institutional Trading of EHang

Several institutional investors and hedge funds have recently made changes to their positions in EH. Norges Bank acquired a new stake in shares of EHang during the fourth quarter valued at $7,131,000. Tiger Pacific Capital LP acquired a new position in EHang in the 3rd quarter valued at about $8,948,000. Fideuram Asset Management Ireland dac acquired a new position in EHang in the 4th quarter valued at about $2,591,000. UBS Group AG lifted its holdings in EHang by 19.0% in the 4th quarter. UBS Group AG now owns 941,689 shares of the company’s stock valued at $12,411,000 after purchasing an additional 150,567 shares in the last quarter. Finally, Vident Advisory LLC purchased a new position in EHang in the 4th quarter valued at about $1,653,000. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

EHang Trading Down 3.7%

NASDAQ:EH opened at $5.71 on Tuesday. EHang has a 52-week low of $4.89 and a 52-week high of $20.20. 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 fifty day simple moving average of $5.92 and a 200-day simple moving average of $9.12. The company has a market capitalization of $428.94 million, a PE ratio of -10.57 and a beta of 1.19.

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