Bank of America Issues Pessimistic Forecast for EHang (NASDAQ:EH) Stock Price

EHang (NASDAQ:EH - Free Report) had its target price cut by Bank of America from $26.00 to $24.00 in a report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

EH has been the topic of a number of other research reports. Daiwa Capital Markets started coverage on shares of EHang in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $30.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised shares of EHang from a "hold" rating to a "buy" rating and cut their price target for the company from $22.00 to $20.00 in a research note on Monday, April 14th. Jefferies Financial Group started coverage on shares of EHang in a research note on Monday, May 5th. They issued a "buy" rating and a $30.40 price target on the stock. Finally, Daiwa America raised shares of EHang to a "strong-buy" rating in a research note on Tuesday, April 1st. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $25.28.

EHang Trading Down 0.7%

NASDAQ EH traded down $0.11 during trading on Tuesday, reaching $16.22. 1,111,692 shares of the stock traded hands, compared to its average volume of 1,661,625. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -30.04 and a beta of 1.10. The stock's 50-day moving average price is $17.40 and its 200 day moving average price is $17.98. The company has a quick ratio of 2.25, a current ratio of 2.39 and a debt-to-equity ratio of 0.01. EHang has a fifty-two week low of $10.40 and a fifty-two week high of $29.76.

Hedge Funds Weigh In On EHang

Institutional investors and hedge funds have recently modified their holdings of the business. KADENSA CAPITAL Ltd boosted its position in EHang by 585.4% during the 1st quarter. KADENSA CAPITAL Ltd now owns 759,180 shares of the company's stock worth $15,859,000 after buying an additional 648,412 shares during the period. Cubist Systematic Strategies LLC boosted its position in EHang by 517.1% during the 1st quarter. Cubist Systematic Strategies LLC now owns 684,103 shares of the company's stock worth $14,291,000 after buying an additional 573,248 shares during the period. Canada Pension Plan Investment Board acquired a new stake in EHang during the 1st quarter worth approximately $8,162,000. Norges Bank acquired a new stake in EHang during the 4th quarter worth approximately $3,809,000. Finally, Lighthouse Investment Partners LLC acquired a new stake in EHang during the 4th quarter worth approximately $1,977,000. 94.03% of the stock is currently owned by institutional investors and hedge funds.

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.