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

EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) reached a new 52-week low during 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.

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

Institutional Trading of EHang

Hedge funds have recently bought and sold shares of the business. KADENSA CAPITAL Ltd boosted its position 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 purchasing an additional 648,412 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of EHang by 517.1% during the 1st 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 purchased a new position in shares of EHang in the 3rd quarter worth about $8,948,000. Norges Bank purchased a new stake in EHang during the second quarter worth about $7,669,000. Finally, Canada Pension Plan Investment Board bought a new stake in EHang in the first quarter worth about $8,162,000. 94.03% of the stock is currently owned by institutional investors.

EHang Trading Down 3.5%

The stock’s 50 day simple moving average is $17.30 and its two-hundred day simple moving average is $17.28. The stock has a market capitalization of $982.02 million, a PE ratio of -27.32 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.

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.