EHang (NASDAQ:EH) Sets New 12-Month Low Following Analyst Downgrade

Shares of EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) hit a new 52-week low during mid-day trading on Tuesday after JPMorgan Chase & Co. downgraded the stock from an overweight rating to a neutral rating. JPMorgan Chase & Co. now has a $13.00 price target on the stock, down from their previous price target of $21.00. EHang traded as low as $13.45 and last traded at $13.6710, with a volume of 360662 shares changing hands. The stock had previously closed at $14.15.

Several other research analysts have also recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of EHang in a report on Wednesday, October 8th. Wall Street Zen upgraded EHang from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Dbs Bank initiated coverage on EHang in a research note on Thursday, October 2nd. They set a “buy” rating on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, EHang currently has a consensus rating of “Moderate Buy” and an average target price of $23.48.

Institutional Investors Weigh In On EHang

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in EHang by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,022,710 shares of the company’s stock worth $37,562,000 after acquiring an additional 55,913 shares during the period. KADENSA CAPITAL Ltd grew its holdings in shares of EHang by 585.4% during the 1st quarter. KADENSA CAPITAL Ltd now owns 759,180 shares of the company’s stock worth $15,859,000 after purchasing an additional 648,412 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of EHang by 517.1% in the first quarter. Cubist Systematic Strategies LLC now owns 684,103 shares of the company’s stock worth $14,291,000 after purchasing an additional 573,248 shares during the period. Tiger Pacific Capital LP bought a new position in shares of EHang in the third quarter worth $8,948,000. Finally, Norges Bank acquired a new position in EHang in the second quarter valued at about $7,669,000. 94.03% of the stock is currently owned by institutional investors.

EHang Price Performance

The firm has a market cap of $965.48 million, a P/E ratio of -26.86 and a beta of 1.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.50 and a quick ratio of 2.32. The company’s 50-day moving average is $17.24 and its two-hundred day moving average is $17.25.

About EHang

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.