WeRide (NASDAQ:WRD) Earns Sell (D-) Rating from Weiss Ratings

WeRide (NASDAQ:WRD)‘s stock had its “sell (d-)” rating reaffirmed by equities researchers at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other equities research analysts also recently issued reports about the stock. Citigroup initiated coverage on shares of WeRide in a research report on Monday, September 29th. They set a “buy” rating and a $15.50 price target for the company. Wall Street Zen upgraded shares of WeRide from a “sell” rating to a “hold” rating in a research report on Sunday, July 13th. Finally, UBS Group started coverage on shares of WeRide in a research report on Monday, August 4th. They set a “buy” rating and a $12.00 price target for the company. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, WeRide currently has an average rating of “Hold” and an average target price of $13.75.

WeRide Price Performance

WRD stock opened at $11.97 on Wednesday. The firm has a 50 day moving average of $9.93 and a 200-day moving average of $9.49. WeRide has a 12-month low of $6.03 and a 12-month high of $44.00. The company has a current ratio of 11.03, a quick ratio of 10.55 and a debt-to-equity ratio of 0.01. The company has a market cap of $3.46 billion and a price-to-earnings ratio of -4.29.

WeRide (NASDAQ:WRD) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.18) earnings per share (EPS) for the quarter. WeRide had a negative net margin of 595.64% and a negative return on equity of 49.03%. The company had revenue of $17.75 million for the quarter. As a group, equities analysts expect that WeRide will post -0.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC purchased a new position in shares of WeRide during the 1st quarter worth approximately $27,000. SBI Securities Co. Ltd. grew its stake in WeRide by 1,263.6% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,559 shares of the company’s stock worth $28,000 after acquiring an additional 3,298 shares during the period. JPMorgan Chase & Co. purchased a new stake in WeRide in the 2nd quarter worth approximately $30,000. Gordian Capital Singapore Pte Ltd purchased a new stake in WeRide in the 1st quarter worth approximately $56,000. Finally, Levin Capital Strategies L.P. purchased a new stake in WeRide in the 2nd quarter worth approximately $79,000.

WeRide Company Profile

WeRide, Inc engages in the development of an autonomous driving technology platform. It offers Robotaxi, Robobus, Robovan, Robosweeper, and advanced driving solutions, providing smart services in online ride-hailing, on-demand transport, urban logistics, and environmental sanitation. The company was founded by Tony Xu Han and Yan Li in February 2017 and is headquartered in Guangzhou, China.