EHang Holdings Limited Unsponsored ADR (NASDAQ:EH – Get Free Report)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $6.46 and last traded at $6.50, with a volume of 1082889 shares trading hands. The stock had previously closed at $6.84.
Wall Street Analysts Forecast Growth
EH has been the topic of a number of recent research reports. Weiss Ratings cut EHang from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. UBS Group cut shares of 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. Bank of America reissued a “buy” rating on shares of EHang in a research report on Tuesday, June 9th. Finally, Wall Street Zen lowered shares of EHang from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $12.05.
Check Out Our Latest Research Report on EHang
EHang Trading Down 5.0%
EHang declared that its Board of Directors has initiated a share repurchase plan on Monday, June 8th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Institutional Trading of EHang
A number of institutional investors have recently made changes to their positions in EH. Leonteq Securities AG purchased a new position in shares of EHang during the 4th quarter worth $26,000. Bessemer Group Inc. purchased a new stake in shares of EHang in the 1st quarter worth $51,000. Legal & General Group Plc raised its holdings in 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 purchasing an additional 2,136 shares during the period. Daiwa Securities Group Inc. raised its holdings in EHang by 47.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,816 shares of the company’s stock worth $63,000 after purchasing an additional 1,553 shares during the period. Finally, Advisory Services Network LLC purchased a new position in EHang during the third quarter valued at $117,000. Hedge funds and other institutional investors own 94.03% of the company’s stock.
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.
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