EHang (NASDAQ:EH) Lowered to Sell Rating by Wall Street Zen

EHang (NASDAQ:EH) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.

Several other equities analysts have also recently weighed in on EH. JPMorgan Chase & Co. cut shares of EHang from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $21.00 to $13.00 in a research note on Tuesday, November 25th. Weiss Ratings restated a “sell (d-)” rating on shares of EHang in a report on Wednesday, October 8th. Finally, Dbs Bank assumed coverage on shares of EHang in a research note on Thursday, October 2nd. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $23.48.

EHang Stock Down 1.0%

NASDAQ:EH opened at $13.96 on Friday. The stock has a 50-day simple moving average of $14.34 and a 200 day simple moving average of $16.49. EHang has a 52-week low of $12.71 and a 52-week high of $29.76. The company has a market cap of $1.00 billion, a PE ratio of -24.93 and a beta of 0.48. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.17 and a current ratio of 2.33.

Institutional Trading of EHang

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its stake in EHang by 11.9% in the first quarter. Goldman Sachs Group Inc. now owns 125,781 shares of the company’s stock valued at $2,628,000 after acquiring an additional 13,376 shares during the last quarter. SteelPeak Wealth LLC bought a new stake in shares of EHang in the 2nd quarter valued at about $857,000. Caitong International Asset Management Co. Ltd lifted its stake 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 purchasing an additional 6,327 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in EHang during the second quarter worth about $811,000. Finally, Eleva Capital SAS acquired a new position in EHang during the second quarter worth approximately $804,000. 94.03% of the stock is owned by institutional investors.

About EHang

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.