EHang (NASDAQ:EH) Shares Up 9.4% – Should You Buy?

EHang Holdings Limited Unsponsored ADR (NASDAQ:EH)’s share price shot up 9.4% during mid-day trading on Wednesday . The stock traded as high as $7.37 and last traded at $7.3050. 466,116 shares traded hands during trading, a decline of 36% from the average session volume of 732,378 shares. The stock had previously closed at $6.68.

Analyst Ratings Changes

Several research firms have recently issued reports on EH. Wall Street Zen raised shares of EHang from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Bank of America reissued a “buy” rating on shares of EHang in a research report on Tuesday. Weiss Ratings cut shares of EHang from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Finally, UBS Group cut shares of EHang from a “buy” rating to a “neutral” rating and set a $11.10 price target for the company. in a research report on Thursday, June 4th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, EHang presently has a consensus rating of “Hold” and a consensus target price of $12.05.

EHang Stock Performance

The stock has a market capitalization of $512.32 million, a PE ratio of -12.63 and a beta of 1.13. The company has a quick ratio of 1.93, a current ratio of 1.87 and a debt-to-equity ratio of 0.10. The business’s 50-day moving average is $9.95 and its two-hundred day moving average is $11.76.

EHang announced that its Board of Directors has authorized a share repurchase plan on Monday, June 8th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its stake in shares of 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 buying an additional 19,771 shares during the period. Bessemer Group Inc. acquired a new position in EHang in the 1st quarter valued at about $51,000. SteelPeak Wealth LLC increased its position in EHang by 452.6% in the 1st 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. Leonteq Securities AG increased its position in EHang by 100.0% in the 1st quarter. Leonteq Securities AG now owns 4,000 shares of the company’s stock valued at $39,000 after acquiring an additional 2,000 shares during the period. Finally, Virtu Financial LLC acquired a new position in EHang in the 4th quarter valued at about $183,000. 94.03% of the stock is currently owned by institutional investors and hedge funds.

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.