Shares of EHang Holdings Limited (NASDAQ:EH) have received a consensus rating of “Moderate Buy” from nine research firms currently covering the stock, according to a report from Marketbeat. The average price target for the stock over the next year stands at $26.08. Analysts’ recommendations include one sell, seven buy, and one strong buy rating.
Recent reports have brought attention to the stock’s performance. On October 8, 2023, Weiss Ratings reaffirmed a “sell (d-)” rating for EHang. Earlier, on August 21, 2023, JPMorgan Chase & Co. initiated coverage with an “overweight” rating and a price target set at $26.00. In a notable shift, Wall Street Zen downgraded EHang from a “hold” to a “sell” rating on October 3, 2023. Additionally, Dbs Bank recently began coverage with a “buy” recommendation.
Institutional Investors Show Increased Interest
Several institutional investors have adjusted their stakes in EHang recently, reflecting a growing interest in the company. Legal & General Group Plc significantly increased its holdings by 171.7% in the second quarter, now owning 3,380 shares valued at approximately $59,000 after acquiring an additional 2,136 shares.
Another notable increase came from Caitong International Asset Management Co. Ltd, which raised its stake by an impressive 3,147.8%, resulting in ownership of 6,528 shares valued at around $113,000 after adding 6,327 shares in the last quarter. JPMorgan Chase & Co. also increased its holdings by 10.1%, now owning 7,292 shares worth approximately $127,000.
Additionally, both Eschler Asset Management LLP and HSBC Holdings PLC entered new stakes in the company, valued at about $292,000 and $300,000, respectively. Currently, approximately 94.03% of EHang’s stock is owned by hedge funds and other institutional investors.
About EHang Holdings Limited
EHang Holdings Limited operates as a leading technology platform specializing in autonomous aerial vehicles (AAVs). The company is based in the People’s Republic of China and extends its reach across East Asia, West Asia, Europe, and other international markets. EHang designs, develops, manufactures, and sells AAVs, alongside supporting systems and infrastructure for various applications, including passenger transport, logistics, smart city management, and aerial media solutions.
As EHang continues to navigate the evolving landscape of aerial technology, analysts and investors are keenly watching its developments and market performance. The growing interest from institutional investors highlights a potential shift in market perception surrounding the company’s future prospects.
