EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) Receives $7.18 Average Price Target from Analysts

Shares of EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) have received a consensus recommendation of “Reduce” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $7.18.

Several equities analysts recently issued reports on EH shares. The Goldman Sachs Group cut EHang from a “buy” rating to a “neutral” rating and set a $7.30 price target on the stock. in a report on Tuesday, July 14th. UBS Group cut EHang from a “buy” rating to a “neutral” rating and set a $11.10 price objective for the company. in a report on Thursday, June 4th. Morgan Stanley reissued an “overweight” rating on shares of EHang in a report on Thursday, July 9th. Wall Street Zen downgraded shares of EHang from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Finally, JPMorgan Chase & Co. reaffirmed 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.

Hedge Funds Weigh In On EHang

A number of hedge funds and other institutional investors have recently bought and sold shares of EH. Leonteq Securities AG acquired a new stake in EHang during the 4th quarter worth $26,000. Legal & General Group Plc lifted its stake in shares of 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 purchasing an additional 2,136 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of EHang by 47.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,816 shares of the company’s stock valued at $63,000 after purchasing an additional 1,553 shares during the period. Bessemer Group Inc. acquired a new position in shares of EHang in the 1st quarter valued at $51,000. Finally, Advisory Services Network LLC bought a new position in shares of EHang in the 3rd quarter worth $117,000. 94.03% of the stock is owned by institutional investors.

EHang Price Performance

NASDAQ EH opened at $4.90 on Friday. The stock has a fifty day moving average of $7.21 and a 200-day moving average of $10.09. The stock has a market capitalization of $368.09 million, a P/E ratio of -9.07 and a beta of 1.13. EHang has a 52 week low of $4.89 and a 52 week high of $20.45. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.70 and a current ratio of 1.87.

EHang announced that its board has authorized a share buyback program on Monday, June 8th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is 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.