EHang (NASDAQ:EH – Get Free Report)‘s stock had its “underweight” rating reissued by research analysts at JPMorgan Chase & Co. in a research note issued on Monday,Benzinga reports. They currently have a $4.40 price objective on the stock, down from their prior price objective of $9.70. JPMorgan Chase & Co.‘s target price points to a potential downside of 30.27% from the company’s previous close.
A number of other research analysts have also weighed in on the stock. 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 report on Thursday, June 4th. Wall Street Zen lowered EHang from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Bank of America reiterated a “buy” rating on shares of EHang in a research report on Tuesday, June 9th. Finally, Weiss Ratings raised EHang from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 29th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, EHang currently has an average rating of “Hold” and an average target price of $7.75.
View Our Latest Stock Analysis on EH
EHang Price Performance
EHang announced that its Board of Directors has initiated a share buyback plan on Monday, June 8th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
Institutional Investors Weigh In On EHang
Institutional investors and hedge funds have recently bought and sold shares of the business. Leonteq Securities AG bought a new stake in shares of EHang during the 4th quarter valued at about $26,000. Legal & General Group Plc grew its holdings in shares of EHang by 171.7% during 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 during the period. Daiwa Securities Group Inc. lifted its stake in shares of EHang by 47.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,816 shares of the company’s stock valued at $63,000 after purchasing an additional 1,553 shares during the period. Bessemer Group Inc. purchased a new stake in EHang in the first quarter worth $51,000. Finally, Advisory Services Network LLC purchased a new stake in shares of EHang in the 3rd quarter worth about $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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