Shares of EHang Holdings jumped 12.5% to $8.88 on June 8 after the Chinese autonomous aircraft maker announced a $30 million share repurchase program just hours before its Q1 2026 earnings release. The rebound follows a brutal week — shares cratered 14.5% on June 5 alone — and arrives against a backdrop of deepening Wall Street skepticism about whether the company can turn its flying taxis from demonstration projects into a real business.
• A Buyback That Doubles as Damage Control
EHang's board approved the repurchase of up to $30 million in shares over the next 12 months , funded entirely from existing cash reserves and cash generated from operations . At today's price, that sum could retire roughly 3.4 million shares — meaningful for a company with only about 75.85 million shares outstanding . But the timing, one day before earnings, looks calculated to put a floor under the stock after a week of heavy selling.
• UBS Just Slashed Its Forecasts by Up to 70%
On June 4, UBS downgraded EHang from Buy to Neutral, citing delays in commercialization and cutting its price target from $21 to $11.10 . More damaging: UBS cut its 2026–2028 shipment and revenue forecasts by 50% to 70% and now expects breakeven in 2029–2030, versus its previous forecast of 2026–2027 . That three-year pushback means investors face a much longer cash burn before profits arrive.
• Tomorrow's Earnings Call Is the Real Test
EHang will release unaudited Q1 2026 results on June 9 at 8:00 AM ET . In Q4 2025, the company posted quarterly sales of CNY 243.78 million and a small net profit of CNY 10.49 million — its first profitable quarter. Investors need to see whether that was a one-time event or a repeatable pattern. Commercialization in key cities like Hefei and Guangzhou still hinges on government approvals, and EHang already revised its 2025 revenue downward by ~RMB 90 million, or 18% .
• The Stock Is Still Down 56% From Its 52-Week High Even after today's pop, EHang trades at $8.88 versus a 52-week high of $20.45 . On a price-to-sales basis, EHang trades at 9.7 times revenue, above the U.S. aerospace and defense average of 5.3 times . The buyback signals management believes shares are cheap, but the premium valuation already prices in growth that regulators haven't yet approved. Tomorrow's call will determine whether this rally has legs — or is just a dead-cat bounce.