EHang (NASDAQ:EH) Stock Price Down 7.2% – Should You Sell?

EHang Holdings Limited Unsponsored ADR (NASDAQ:EH) was down 7.2% during mid-day trading on Tuesday . The stock traded as low as $13.27 and last traded at $13.4250. Approximately 772,271 shares changed hands during trading, a decline of 12% from the average daily volume of 882,156 shares. The stock had previously closed at $14.46.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EH. JPMorgan Chase & Co. lowered shares of EHang from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $21.00 to $13.00 in a research report on Tuesday, November 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EHang in a research report on Wednesday, October 8th. Wall Street Zen cut EHang from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. Finally, Dbs Bank initiated coverage on EHang in a research note on Thursday, October 2nd. They set a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, EHang currently has an average rating of “Moderate Buy” and a consensus price target of $23.48.

EHang Stock Performance

The stock has a market capitalization of $956.14 million, a P/E ratio of -23.75 and a beta of 0.48. The company has a quick ratio of 2.17, a current ratio of 2.33 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average of $14.08 and a 200 day moving average of $16.38.

Hedge Funds Weigh In On EHang

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in EHang by 10.1% during the second 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 last quarter. Legal & General Group Plc boosted its holdings in shares of EHang by 171.7% in the 2nd quarter. Legal & General Group Plc now owns 3,380 shares of the company’s stock worth $59,000 after acquiring an additional 2,136 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in EHang by 5.2% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,677 shares of the company’s stock valued at $1,164,000 after purchasing an additional 3,110 shares during the last quarter. California Public Employees Retirement System boosted its stake in EHang by 8.2% in the third quarter. California Public Employees Retirement System now owns 54,450 shares of the company’s stock worth $1,011,000 after purchasing an additional 4,112 shares in the last quarter. Finally, Squarepoint Ops LLC grew its holdings in shares of EHang by 12.9% during the second quarter. Squarepoint Ops LLC now owns 44,378 shares of the company’s stock worth $770,000 after purchasing an additional 5,063 shares during the last quarter. 94.03% of the stock is owned by 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.