EHang’s (EH) “Underperform” Rating Reaffirmed at Bank of America

EHang (NASDAQ:EH)‘s stock had its “underperform” rating reiterated by investment analysts at Bank of America in a report released on Wednesday,Benzinga reports. They presently have a $5.40 target price on the stock, down from their prior target price of $13.00. Bank of America‘s target price would indicate a potential upside of 0.04% from the company’s current price.

EH has been the subject of a number of other research reports. Weiss Ratings upgraded EHang from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 29th. UBS Group downgraded 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. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $4.40 price target (down from $9.70) on shares of EHang in a research note on Monday. Finally, Wall Street Zen downgraded EHang from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, EHang presently has a consensus rating of “Reduce” and an average price target of $6.97.

EHang Price Performance

Shares of EH traded down $0.12 during mid-day trading on Wednesday, hitting $5.40. The company’s stock had a trading volume of 693,998 shares, compared to its average volume of 821,295. EHang has a fifty-two week low of $5.38 and a fifty-two week high of $20.45. The stock has a market capitalization of $405.50 million, a price-to-earnings ratio of -9.98 and a beta of 1.13. The firm has a 50-day moving average price of $8.41 and a 200 day moving average price of $10.84. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.87 and a quick ratio of 1.70.

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

Hedge Funds Weigh In On EHang

A number of large investors have recently made changes to their positions in EH. Leonteq Securities AG acquired a new stake in shares of EHang during the fourth quarter worth approximately $26,000. Legal & General Group Plc grew its holdings in shares of 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 stake in shares of EHang by 47.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,816 shares of the company’s stock worth $63,000 after acquiring an additional 1,553 shares during the last quarter. Bessemer Group Inc. purchased a new stake in shares of EHang during the first quarter worth $51,000. Finally, Advisory Services Network LLC purchased a new position in EHang in the third quarter valued at about $117,000. 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.