EHang (NASDAQ:EH) Stock Rating Lowered by Wall Street Zen

EHang (NASDAQ:EH) was downgraded by research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

EH has been the topic of a number of other reports. Bank of America reaffirmed an “underperform” rating and set a $5.40 target price (down from $13.00) on shares of EHang in a research report on Wednesday, July 8th. Morgan Stanley reiterated an “overweight” rating on shares of EHang in a report on Thursday, July 9th. Dbs Bank cut EHang from a “buy” rating to a “hold” rating in a research note on Friday, August 28th. Zacks Research raised EHang from a “strong sell” rating to a “hold” rating in a research note on Friday, September 4th. Finally, Weiss Ratings downgraded EHang from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, EHang presently has a consensus rating of “Reduce” and a consensus target price of $7.18.

EHang Stock Performance

NASDAQ EH opened at $4.53 on Friday. The stock has a market cap of $340.29 million, a PE ratio of -7.31 and a beta of 1.17. EHang has a 12 month low of $4.34 and a 12 month high of $20.20. The company’s 50-day moving average price is $5.22 and its 200-day moving average price is $8.15. The company has a current ratio of 1.84, a quick ratio of 1.65 and a debt-to-equity ratio of 0.13.

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

EHang declared that its Board of Directors has initiated a stock buyback program on Monday, June 8th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in EH. Goldman Sachs Group Inc. raised its holdings in shares of EHang by 11.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 125,781 shares of the company’s stock valued at $2,628,000 after purchasing an additional 13,376 shares in the last quarter. JPMorgan Chase & Co. boosted 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 valued at $127,000 after purchasing an additional 671 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of EHang by 171.7% during the second quarter. Legal & General Group Plc now owns 3,380 shares of the company’s stock valued at $59,000 after purchasing an additional 2,136 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of EHang during the second quarter valued at approximately $300,000. Finally, Raymond James Financial Inc. purchased a new position in EHang during the second quarter valued at approximately $369,000. 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.