Wall Street Zen Downgrades EHang (NASDAQ:EH) to Sell

Key Points

• Wall Street Zen downgraded EHang from a "hold" to a "sell" rating, reflecting growing concerns over the company's performance.
• Despite the downgrade, EHang has a consensus rating of "Moderate Buy" from analysts, with a target price of $26.08.
• Several hedge funds have significantly increased their stakes in EHang, with Eschler Asset Management boosting its investment by over 1,300% during the second quarter.

EHang (NASDAQ:EH - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Friday.

Several other research analysts have also recently issued reports on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of EHang in a research report on Saturday, September 27th. JPMorgan Chase & Co. assumed coverage on EHang in a research report on Thursday, August 21st. They issued an "overweight" rating and a $26.00 target price for the company. Finally, Dbs Bank started coverage on EHang in a research report on Thursday. They issued a "buy" rating for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, EHang has a consensus rating of "Moderate Buy" and a consensus target price of $26.08.

EHang Stock Down 0.8%

Shares of NASDAQ:EH traded down $0.16 on Friday, hitting $19.09. 1,491,657 shares of the company's stock were exchanged, compared to its average volume of 1,449,825. The firm's 50-day moving average is $17.33 and its 200 day moving average is $17.54. The company has a market capitalization of $1.37 billion, a PE ratio of -38.18 and a beta of 1.12. EHang has a 1-year low of $12.02 and a 1-year high of $29.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 2.50.

Hedge Funds Weigh In On EHang

Several hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. increased its stake in EHang by 5,904.0% in the 2nd quarter. Osaic Holdings Inc. now owns 27,018 shares of the company's stock valued at $469,000 after purchasing an additional 26,568 shares in the last quarter. Squarepoint Ops LLC increased its stake in EHang by 12.9% in the 2nd quarter. Squarepoint Ops LLC now owns 44,378 shares of the company's stock valued at $770,000 after purchasing an additional 5,063 shares in the last quarter. Headlands Technologies LLC increased its stake in EHang by 88.9% in the 2nd quarter. Headlands Technologies LLC now owns 80,163 shares of the company's stock valued at $1,392,000 after purchasing an additional 37,729 shares in the last quarter. Man Group plc increased its stake in EHang by 138.7% in the 2nd quarter. Man Group plc now owns 79,789 shares of the company's stock valued at $1,385,000 after purchasing an additional 46,364 shares in the last quarter. Finally, Eschler Asset Management LLP increased its stake in EHang by 1,329.8% in the 2nd quarter. Eschler Asset Management LLP now owns 200,000 shares of the company's stock valued at $3,472,000 after purchasing an additional 186,012 shares in the last quarter. 94.03% of the stock is 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.

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