EHang (NASDAQ:EH) Shares Down 6% – Here’s Why

EHang Holdings Limited Unsponsored ADR (NASDAQ:EH)’s stock price was down 6% during mid-day trading on Thursday . The company traded as low as $8.95 and last traded at $9.1960. Approximately 646,298 shares traded hands during mid-day trading, an increase of 0% from the average daily volume of 644,215 shares. The stock had previously closed at $9.78.

Analysts Set New Price Targets

A number of research analysts recently issued reports on EH shares. Bank of America reissued a “buy” rating on shares of EHang in a research note on Thursday, March 12th. UBS Group lowered shares of EHang from a “buy” rating to a “neutral” rating and set a $11.10 target price on the stock. in a research report on Thursday. Wall Street Zen upgraded shares of EHang from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Weiss Ratings lowered shares of EHang from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, EHang presently has a consensus rating of “Hold” and an average target price of $12.05.

EHang Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 2.07 and a quick ratio of 1.93. The stock has a market cap of $592.70 million, a price-to-earnings ratio of -17.93 and a beta of 1.13. The business’s 50-day simple moving average is $10.13 and its two-hundred day simple moving average is $11.98.

Hedge Funds Weigh In On EHang

A number of hedge funds have recently modified their holdings of the business. Bank of America Corp DE lifted its holdings in shares of EHang by 187.6% during the first quarter. Bank of America Corp DE now owns 30,312 shares of the company’s stock worth $294,000 after purchasing an additional 19,771 shares during the period. Bessemer Group Inc. acquired a new position in shares of EHang during the first quarter worth $51,000. SteelPeak Wealth LLC lifted its holdings in shares of EHang by 452.6% during the first quarter. SteelPeak Wealth LLC now owns 73,838 shares of the company’s stock worth $717,000 after purchasing an additional 60,476 shares during the period. Leonteq Securities AG lifted its holdings in shares of EHang by 100.0% during the first quarter. Leonteq Securities AG now owns 4,000 shares of the company’s stock worth $39,000 after purchasing an additional 2,000 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of EHang during the fourth quarter worth $183,000. Institutional investors and hedge funds own 94.03% of the company’s stock.

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.