EHang (NASDAQ:EH) Earns Overweight Rating from Analysts at JPMorgan Chase & Co.

Stock analysts at JPMorgan Chase & Co. started coverage on shares of EHang (NASDAQ:EH) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $26.00 price target on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 40.46% from the company’s current price.

Several other research analysts have also weighed in on the stock. Jefferies Financial Group initiated coverage on shares of EHang in a research note on Monday, May 5th. They set a “buy” rating and a $30.40 target price for the company. Bank of America lowered their target price on shares of EHang from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, May 27th. One analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $25.40.

EHang Price Performance

EHang stock opened at $18.51 on Thursday. EHang has a 12-month low of $10.90 and a 12-month high of $29.76. The stock has a market cap of $1.33 billion, a P/E ratio of -38.56 and a beta of 1.16. The company has a 50-day moving average price of $17.60 and a 200 day moving average price of $18.79. The company has a current ratio of 2.68, a quick ratio of 2.45 and a debt-to-equity ratio of 0.07.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Natixis acquired a new stake in EHang during the fourth quarter worth approximately $25,000. Tower Research Capital LLC TRC increased its holdings in shares of EHang by 247.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,068 shares of the company’s stock valued at $33,000 after acquiring an additional 1,472 shares during the period. Legal & General Group Plc grew its position in EHang by 171.7% in the 2nd quarter. Legal & General Group Plc now owns 3,380 shares of the company’s stock valued at $59,000 after buying an additional 2,136 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in EHang in the 4th quarter valued at $79,000. Finally, Caitong International Asset Management Co. Ltd grew its position in EHang by 3,147.8% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 6,528 shares of the company’s stock valued at $113,000 after buying an additional 6,327 shares during the last quarter. Hedge funds and other institutional investors own 94.03% of the company’s stock.

EHang Company Profile

EHang Holdings Limited operates as an autonomous aerial vehicle (AAV) technology platform company in the People's Republic of China, East Asia, West Asia, Europe, and internationally. It designs, develops, manufactures, sells, and operates AAVs, as well as their supporting systems and infrastructure for various industries and applications, including passenger transportation, logistics, smart city management, and aerial media solutions.