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

EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) has been assigned a consensus recommendation of “Reduce” from the eight brokerages that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $7.18.

A number of brokerages recently issued reports on EH. Bank of America reiterated 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. Morgan Stanley restated an “overweight” rating on shares of EHang in a report on Thursday, July 9th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $4.40 target price (down from $9.70) on shares of EHang in a research report on Monday, July 6th. Weiss Ratings downgraded EHang from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 14th. Finally, Zacks Research downgraded EHang from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in EH. Leonteq Securities AG bought a new position in shares of EHang during the fourth quarter valued at approximately $26,000. Bessemer Group Inc. purchased a new stake in EHang during the first quarter worth $51,000. Legal & General Group Plc boosted its position in EHang by 171.7% during the 2nd quarter. Legal & General Group Plc now owns 3,380 shares of the company’s stock valued at $59,000 after acquiring an additional 2,136 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings 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 valued at $63,000 after acquiring an additional 1,553 shares during the period. Finally, Advisory Services Network LLC bought a new position in shares of EHang in the 3rd quarter worth $117,000. Hedge funds and other institutional investors own 94.03% of the company’s stock.

EHang Stock Performance

Shares of NASDAQ:EH opened at $5.09 on Friday. The firm has a market cap of $382.36 million, a PE ratio of -9.43 and a beta of 1.13. The firm’s 50 day simple moving average is $7.30 and its 200-day simple moving average is $10.16. EHang has a one year low of $4.99 and a one year high of $20.45. 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 announced that its board has authorized a share buyback program on Monday, June 8th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

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.