EHang (NASDAQ:EH) Hits New 52-Week Low – What’s Next?

Shares of EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) hit a new 52-week low on Monday . The stock traded as low as $12.69 and last traded at $12.6470, with a volume of 28054 shares trading hands. The stock had previously closed at $12.77.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of EHang in a research report on Wednesday, January 21st. Wall Street Zen cut shares of EHang from a “hold” rating to a “sell” rating in a report on Sunday, January 11th. Finally, JPMorgan Chase & Co. cut EHang from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $21.00 to $13.00 in a research report on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.48.

EHang Trading Down 1.8%

The company has a current ratio of 2.33, a quick ratio of 2.17 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average of $13.78 and a 200-day moving average of $16.12. The stock has a market cap of $901.14 million, a PE ratio of -22.38 and a beta of 0.91.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EH. Legal & General Group Plc grew its holdings in EHang by 171.7% in the second 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. Advisory Services Network LLC purchased a new stake in shares of EHang during the 3rd quarter valued at $117,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of EHang by 3,147.8% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 6,528 shares of the company’s stock worth $113,000 after buying an additional 6,327 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of EHang by 10.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,292 shares of the company’s stock worth $127,000 after buying an additional 671 shares during the period. Finally, Envestnet Asset Management Inc. acquired a new position in EHang in the third quarter valued at $284,000. 94.03% of the stock is currently owned by hedge funds and other 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.