EHang (NASDAQ:EH) Stock Rating Lowered by Wall Street Zen

EHang (NASDAQ:EH) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

EH has been the subject of several other reports. Dbs Bank began coverage on shares of EHang in a report on Thursday. They issued a “buy” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of EHang in a research report on Saturday, September 27th. Finally, JPMorgan Chase & Co. initiated coverage on EHang in a report on Thursday, August 21st. They set an “overweight” rating and a $26.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, EHang currently has a consensus rating of “Moderate Buy” and an average price target of $26.08.

EHang Price Performance

Shares of NASDAQ:EH opened at $19.09 on Friday. The firm has a market capitalization of $1.37 billion, a PE ratio of -38.18 and a beta of 1.12. The company has a quick ratio of 2.32, a current ratio of 2.50 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average price of $17.33 and a two-hundred day moving average price of $17.50. EHang has a twelve month low of $12.02 and a twelve month high of $29.76.

Hedge Funds Weigh In On EHang

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KADENSA CAPITAL Ltd raised its holdings in shares of EHang by 585.4% in the 1st quarter. KADENSA CAPITAL Ltd now owns 759,180 shares of the company’s stock valued at $15,859,000 after acquiring an additional 648,412 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in EHang by 517.1% in the first quarter. Cubist Systematic Strategies LLC now owns 684,103 shares of the company’s stock valued at $14,291,000 after purchasing an additional 573,248 shares in the last quarter. Norges Bank purchased a new stake in EHang in the second quarter valued at approximately $7,669,000. Canada Pension Plan Investment Board bought a new stake in EHang during the first quarter valued at approximately $8,162,000. Finally, Carrhae Capital LLP purchased a new position in EHang in the 2nd quarter worth approximately $4,717,000. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

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.