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

EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) saw some unusual options trading activity on Monday. Stock investors purchased 11,152 call options on the company. This is an increase of 616% compared to the typical volume of 1,558 call options.

EHang Stock Down 1.8%

Shares of NASDAQ EH traded down $0.13 during midday trading on Monday, hitting $6.90. The stock had a trading volume of 462,733 shares, compared to its average volume of 787,531. The business’s 50 day moving average is $9.53 and its 200-day moving average is $11.47. The company has a market cap of $518.40 million, a P/E ratio of -12.78 and a beta of 1.13. EHang has a 52 week low of $6.49 and a 52 week high of $20.45. 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 announced that its Board of Directors has authorized a stock buyback plan on Monday, June 8th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On EHang

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EH. Vanguard Group Inc. lifted its holdings in shares of EHang by 2.8% during the third quarter. Vanguard Group Inc. now owns 2,022,710 shares of the company’s stock valued at $37,562,000 after purchasing an additional 55,913 shares in the last quarter. FIL Ltd grew its position in EHang by 2.9% during the fourth quarter. FIL Ltd now owns 1,402,092 shares of the company’s stock valued at $18,480,000 after buying an additional 39,256 shares during the period. State Street Corp increased its stake in shares of EHang by 4.7% in the 4th quarter. State Street Corp now owns 1,082,433 shares of the company’s stock worth $14,266,000 after purchasing an additional 48,356 shares in the last quarter. UBS Group AG increased its position in EHang by 19.0% in the fourth quarter. UBS Group AG now owns 941,689 shares of the company’s stock worth $12,411,000 after buying an additional 150,567 shares in the last quarter. Finally, Baillie Gifford & Co. purchased a new stake in EHang in the 4th quarter worth approximately $10,204,000. 94.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wall Street Zen lowered shares of EHang from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Bank of America reaffirmed a “buy” rating on shares of EHang in a research note on Tuesday, June 9th. Weiss Ratings cut EHang from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Finally, UBS Group downgraded EHang from a “buy” rating to a “neutral” rating and set a $11.10 price target on the stock. in a research note on Thursday, June 4th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.05.

EHang Company Profile

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.