EHang’s (EH) “Underperform” Rating Reiterated at Bank of America

Bank of America reissued their underperform rating on shares of EHang (NASDAQ:EH) in a report published on Wednesday morning, Marketbeat.com reports. They currently have a $5.40 price objective on the stock, down from their prior price objective of $13.00.

A number of other equities analysts also recently commented on EH. Wall Street Zen downgraded EHang from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $4.40 price target (down from $9.70) on shares of EHang in a research report on Monday, July 6th. UBS Group downgraded EHang from a “buy” rating to a “neutral” rating and set a $11.10 price target on the stock. in a report on Thursday, June 4th. Finally, Weiss Ratings upgraded EHang from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 29th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, EHang has a consensus rating of “Reduce” and a consensus price target of $7.15.

EHang Price Performance

Shares of NASDAQ:EH opened at $5.59 on Wednesday. The company has a quick ratio of 1.70, a current ratio of 1.87 and a debt-to-equity ratio of 0.10. EHang has a fifty-two week low of $5.32 and a fifty-two week high of $20.45. The firm has a 50-day simple moving average of $8.17 and a 200 day simple moving average of $10.69. The company has a market cap of $419.92 million, a PE ratio of -10.35 and a beta of 1.13.

EHang announced that its Board of Directors has authorized a stock buyback plan on Monday, June 8th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EH. Hennion & Walsh Asset Management Inc. increased its stake in shares of EHang by 24.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 55,305 shares of the company’s stock valued at $362,000 after purchasing an additional 10,860 shares during the period. Bank of America Corp DE grew its holdings in EHang by 187.6% in the 1st quarter. Bank of America Corp DE now owns 30,312 shares of the company’s stock worth $294,000 after buying an additional 19,771 shares in the last quarter. Bessemer Group Inc. acquired a new stake in EHang in the 1st quarter valued at approximately $51,000. SteelPeak Wealth LLC increased its position in EHang by 452.6% in the 1st quarter. SteelPeak Wealth LLC now owns 73,838 shares of the company’s stock valued at $717,000 after acquiring an additional 60,476 shares during the period. Finally, Leonteq Securities AG boosted its position in EHang by 100.0% during the 1st quarter. Leonteq Securities AG now owns 4,000 shares of the company’s stock worth $39,000 after acquiring an additional 2,000 shares during the period. 94.03% of the stock is owned by institutional investors and hedge funds.

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.