EHang (NASDAQ:EH) Rating Lowered to “Neutral” at JPMorgan Chase & Co.

EHang (NASDAQ:EH) was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued on Tuesday, Marketbeat.com reports. They currently have a $13.00 target price on the stock, down from their previous target price of $21.00. JPMorgan Chase & Co.‘s price target suggests a potential downside of 4.62% from the company’s previous close.

Several other equities analysts have also commented on EH. Dbs Bank started coverage on shares of EHang in a research note on Thursday, October 2nd. They issued a “buy” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of EHang in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of EHang from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.48.

EHang Trading Up 1.5%

EH opened at $13.63 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 2.50. EHang has a one year low of $12.71 and a one year high of $29.76. The company has a market cap of $979.86 million, a P/E ratio of -27.26 and a beta of 1.11. The business’s 50-day simple moving average is $17.17 and its 200-day simple moving average is $17.22.

Institutional Inflows and Outflows

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

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.