EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) Stock Has Consensus Price Target of $6.70 According to Brokerages

Shares of EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) have earned an average recommendation of “Reduce” from the eight analysts that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $6.70.

EH has been the topic of several research analyst reports. Morgan Stanley set a $5.30 price target on EHang and gave the company an “equal weight” rating in a research report on Tuesday, September 15th. 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 note on Wednesday, July 8th. Zacks Research raised EHang from a “strong sell” rating to a “hold” rating in a report on Friday, September 4th. Wall Street Zen cut shares of EHang from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 12th. Finally, Weiss Ratings downgraded EHang from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 14th.

EHang Stock Performance

Shares of EH opened at $4.19 on Wednesday. The business’s fifty day moving average price is $4.84 and its 200 day moving average price is $7.14. EHang has a 12-month low of $3.95 and a 12-month high of $19.01. The stock has a market capitalization of $314.75 million, a PE ratio of -6.76 and a beta of 1.15. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.84 and a quick ratio of 1.65.

EHang (NASDAQ:EH) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.11) earnings per share (EPS) for the quarter. EHang had a negative return on equity of 32.73% and a negative net margin of 74.74%. The company had revenue of $11.46 million during the quarter. Equities research analysts forecast that EHang will post -0.72 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC lifted its position in shares of EHang by 110.1% during the 2nd quarter. Squarepoint Ops LLC now owns 91,697 shares of the company’s stock worth $601,000 after purchasing an additional 48,048 shares during the last quarter. SteelPeak Wealth LLC boosted its position in shares of EHang by 452.6% in the first quarter. SteelPeak Wealth LLC now owns 73,838 shares of the company’s stock valued at $717,000 after acquiring an additional 60,476 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in shares of EHang by 24.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 55,305 shares of the company’s stock worth $362,000 after acquiring an additional 10,860 shares during the last quarter. Bank of America Corp DE increased its position in 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 acquiring an additional 19,771 shares during the period. Finally, Headlands Technologies LLC increased its position in EHang by 26.7% during the second quarter. Headlands Technologies LLC now owns 19,964 shares of the company’s stock worth $131,000 after acquiring an additional 4,209 shares during the period. 94.03% of the stock is owned by institutional investors and hedge funds.

About EHang

EHang Holdings Limited is a technology company focused on autonomous aerial vehicles (AAVs) and urban air mobility. The company develops aircraft, autonomous flight technologies, command-and-control systems, and supporting services designed for passenger transportation, logistics, aerial firefighting, public safety, and other commercial applications.

EHang’s product portfolio includes the EH216 series, an electric vertical takeoff and landing (eVTOL) aircraft family designed for autonomous passenger and cargo operations.