EHang (NASDAQ:EH) Cut to Neutral at JPMorgan Chase & Co.
JPMorgan Chase & Co. downgraded EHang (NASDAQ:EH) from an "overweight" to a "neutral" rating, setting a $13.00 price target, indicating a potential 8.13% downside. Despite this, EHang has a consensus "Moderate Buy" rating with a target price of $23.48. The stock opened at $14.15, with a market cap of $1.02 billion. Institutional investors hold 94.03% of the stock. EHang operates as an autonomous aerial vehicle technology platform globally.
EHang (NASDAQ:EH - Get Free Report) was downgraded by stock analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a note issued to investors on Tuesday,Finviz reports. They presently have a $13.00 price objective on the stock. JPMorgan Chase & Co.'s target price suggests a potential downside of 8.13% from the stock's current price.
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EH has been the subject of several other research reports. Dbs Bank assumed coverage on EHang in a report on Thursday, October 2nd. They issued a "buy" rating for the company. Wall Street Zen raised EHang from a "sell" rating to a "hold" rating in a research note on Saturday, October 25th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of EHang in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.48.
Check Out Our Latest Stock Analysis on EH
EHang Stock Down 0.1%
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Shares of NASDAQ EH opened at $14.15 on Tuesday. The stock has a market cap of $1.02 billion, a PE ratio of -28.30 and a beta of 1.11. The company has a current ratio of 2.50, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. EHang has a 12-month low of $13.71 and a 12-month high of $29.76. The company has a 50-day moving average of $17.30 and a 200 day moving average of $17.28.
Institutional Investors Weigh In On EHang
Institutional investors have recently modified their holdings of the company. Legal & General Group Plc lifted its stake in 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 in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of EHang by 3,147.8% during the second quarter. Caitong International Asset Management Co. Ltd now owns 6,528 shares of the company's stock worth $113,000 after purchasing an additional 6,327 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of EHang in the third quarter valued at approximately $117,000. JPMorgan Chase & Co. grew its holdings in shares of EHang by 10.1% in the second quarter. JPMorgan Chase & Co. now owns 7,292 shares of the company's stock valued at $127,000 after purchasing an additional 671 shares in the last quarter. Finally, Envestnet Asset Management Inc. acquired a new position in shares of EHang in the third quarter valued at approximately $284,000. 94.03% of the stock is owned by institutional investors and hedge funds.
EHang Company Profile
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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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