EHang (NASDAQ:EH) Stock Price Down 6% – Here’s What Happened

EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) shares fell 6% during mid-day trading on Thursday . The stock traded as low as $8.95 and last traded at $9.1960. 646,298 shares were traded during trading, an increase of 0% from the average session volume of 644,215 shares. The stock had previously closed at $9.78.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Bank of America reiterated a “buy” rating on shares of EHang in a research report on Thursday, March 12th. Weiss Ratings lowered EHang from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. Wall Street Zen raised shares of EHang from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Finally, UBS Group cut shares of EHang from a “buy” rating to a “neutral” rating and set a $11.10 price target on the stock. in a report on Thursday. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.05.

EHang Stock Performance

The firm’s 50 day moving average price is $10.19 and its two-hundred day moving average price is $12.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.93 and a current ratio of 2.07. The firm has a market cap of $688.78 million, a PE ratio of -20.88 and a beta of 1.13.

Hedge Funds Weigh In On EHang

Several institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its position in shares of EHang by 187.6% during the 1st 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 in the last quarter. Bessemer Group Inc. purchased a new stake in EHang during the 1st quarter valued at approximately $51,000. SteelPeak Wealth LLC lifted its holdings in shares of EHang by 452.6% during the first quarter. SteelPeak Wealth LLC now owns 73,838 shares of the company’s stock worth $717,000 after purchasing an additional 60,476 shares during the period. Leonteq Securities AG raised its stake in shares of EHang by 100.0% during the 1st quarter. Leonteq Securities AG now owns 4,000 shares of the company’s stock worth $39,000 after buying an additional 2,000 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of EHang during the 4th quarter worth approximately $183,000. Institutional investors and hedge funds own 94.03% of the company’s stock.

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.