EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) Receives Average Recommendation of “Reduce” from Analysts

Shares of EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) have been given a consensus rating of “Reduce” by the eight ratings firms that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $7.18.

EH has been the subject of a number of recent research reports. Morgan Stanley reaffirmed an “overweight” rating on shares of EHang in a research report on Thursday, July 9th. UBS Group downgraded shares of EHang from a “buy” rating to a “neutral” rating and set a $11.10 price objective on the stock. in a report on Thursday, June 4th. Zacks Research lowered shares of EHang from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Bank of America restated an “underperform” rating and set a $5.40 target price (down from $13.00) on shares of EHang in a report on Wednesday, July 8th. Finally, Weiss Ratings downgraded shares of EHang from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 14th.

EHang Stock Down 5.6%

NASDAQ:EH opened at $5.20 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.70 and a current ratio of 1.87. The company has a market cap of $390.62 million, a PE ratio of -9.63 and a beta of 1.19. EHang has a 52-week low of $4.89 and a 52-week high of $20.20. The stock has a 50-day simple moving average of $5.78 and a 200 day simple moving average of $8.87.

EHang announced that its Board of Directors has approved a stock repurchase 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. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On EHang

Several hedge funds have recently modified their holdings of the stock. Leonteq Securities AG acquired a new stake in shares of EHang in the fourth quarter valued at about $26,000. Bessemer Group Inc. bought a new stake in EHang during the first quarter worth about $51,000. Legal & General Group Plc boosted its position in 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 during the last quarter. Daiwa Securities Group Inc. boosted its position in EHang by 47.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,816 shares of the company’s stock valued at $63,000 after purchasing an additional 1,553 shares during the last quarter. Finally, Advisory Services Network LLC bought a new position in EHang in the third quarter valued at approximately $117,000. 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.