Stock Traders Buy Large Volume of EHang Call Options (NASDAQ:EH)

EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) was the recipient of some unusual options trading on Monday. Traders purchased 23,229 call options on the company. This is an increase of approximately 1,049% compared to the typical daily volume of 2,022 call options.

Hedge Funds Weigh In On EHang

Institutional investors have recently added to or reduced their stakes in the business. Leonteq Securities AG acquired a new stake in EHang in the 4th quarter worth about $26,000. Legal & General Group Plc grew its holdings in EHang by 171.7% in the 2nd quarter. Legal & General Group Plc now owns 3,380 shares of the company’s stock valued at $59,000 after buying an additional 2,136 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of EHang by 47.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,816 shares of the company’s stock valued at $63,000 after acquiring an additional 1,553 shares during the last quarter. Bessemer Group Inc. acquired a new position in shares of EHang during the 1st quarter valued at about $51,000. Finally, Advisory Services Network LLC purchased a new position in shares of EHang during the 3rd quarter worth about $117,000. 94.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EH has been the subject of a number of analyst reports. Zacks Research cut EHang from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Wall Street Zen lowered EHang from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. The Goldman Sachs Group cut EHang from a “buy” rating to a “neutral” rating and set a $7.30 price objective for the company. in a research report on Tuesday, July 14th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $4.40 target price (down from $9.70) on shares of EHang in a research note on Monday, July 6th. Finally, Bank of America restated an “underperform” rating and issued a $5.40 target price (down from $13.00) on shares of EHang in a report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, EHang currently has an average rating of “Reduce” and a consensus target price of $7.18.

EHang Trading Up 2.0%

Shares of EH opened at $5.22 on Tuesday. The stock has a fifty day moving average of $7.58 and a two-hundred day moving average of $10.34. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.70 and a current ratio of 1.87. The company has a market capitalization of $392.13 million, a PE ratio of -9.67 and a beta of 1.13. EHang has a fifty-two week low of $4.99 and a fifty-two week high of $20.45.

EHang announced that its Board of Directors has approved a share buyback plan on Monday, June 8th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.