EHang (NASDAQ:EH) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen downgraded shares of EHang (NASDAQ:EH) from a sell rating to a strong sell rating in a research note published on Saturday,Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the company. Dbs Bank downgraded EHang from a “buy” rating to a “hold” rating in a report on Friday, August 28th. The Goldman Sachs Group cut shares of EHang from a “buy” rating to a “neutral” rating and set a $7.30 price objective for the company. in a research note on Tuesday, July 14th. 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. Morgan Stanley restated an “overweight” rating on shares of EHang in a research report on Thursday, July 9th. Finally, Weiss Ratings cut shares of EHang from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $7.18.

EHang Stock Down 0.4%

Shares of NASDAQ:EH opened at $4.51 on Friday. The company has a quick ratio of 1.65, a current ratio of 1.84 and a debt-to-equity ratio of 0.13. The company has a market cap of $338.80 million, a price-to-earnings ratio of -7.27 and a beta of 1.17. EHang has a fifty-two week low of $4.34 and a fifty-two week high of $20.20. The firm’s 50-day simple moving average is $5.19 and its 200-day simple moving average is $8.09.

EHang (NASDAQ:EH) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.11) earnings per share for the quarter. The business had revenue of $11.46 million during the quarter. EHang had a negative net margin of 74.74% and a negative return on equity of 32.73%. As a group, equities research analysts predict that EHang will post -0.79 earnings per share for the current year.

EHang declared that its board has authorized a stock buyback plan on Monday, June 8th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Trading of EHang

Several large investors have recently modified their holdings of the business. Leonteq Securities AG purchased a new position in EHang in the 4th quarter valued at about $26,000. Bessemer Group Inc. acquired a new stake in shares of EHang during the 1st quarter worth about $51,000. FourThought Financial Partners LLC purchased a new stake in shares of EHang during the fourth quarter worth about $190,000. Headlands Technologies LLC grew its holdings in shares of 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 buying an additional 4,209 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of EHang by 187.6% in the first quarter. Bank of America Corp DE now owns 30,312 shares of the company’s stock valued at $294,000 after buying an additional 19,771 shares during the last quarter. 94.03% of the stock is currently owned by institutional investors and hedge funds.

About EHang

EHang Holdings Limited is a China-based technology company focused on autonomous aerial vehicles (AAVs) and urban air mobility. The company develops aircraft, autonomous flight systems, and supporting infrastructure intended to enable pilotless passenger transportation and other low-altitude aerial services.

Its product portfolio includes the EH216 series of electric vertical takeoff and landing (eVTOL) aircraft, including the EH216-S passenger-carrying model. EHang also develops AAV applications for logistics, medical and emergency response, firefighting, aerial media, and other specialized uses, along with command-and-control systems and related operational services.

Founded in 2014 and headquartered in Guangzhou, China, EHang has conducted demonstration flights, commercial-operation trials, and partnerships in China and selected international markets.