WeRide (NASDAQ:WRD) Rating Lowered to Sell at Wall Street Zen

WeRide (NASDAQ:WRD) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other research firms also recently commented on WRD. Weiss Ratings downgraded shares of WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday. Zacks Research lowered shares of WeRide from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Finally, Bank of America reiterated a “buy” rating and issued a $10.70 price objective on shares of WeRide in a research note on Friday. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.32.

WeRide Stock Performance

WRD opened at $5.85 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.36 and a quick ratio of 5.00. The business has a fifty day simple moving average of $5.91 and a 200 day simple moving average of $6.89. WeRide has a 1 year low of $5.18 and a 1 year high of $12.55. The company has a market capitalization of $1.82 billion, a PE ratio of -7.80 and a beta of 1.89.

WeRide (NASDAQ:WRD) last posted its quarterly earnings data on Tuesday, June 30th. The company reported ($0.18) earnings per share for the quarter. WeRide had a negative return on equity of 24.12% and a negative net margin of 199.09%.The firm had revenue of $34.11 million for the quarter. Research analysts expect that WeRide will post -0.53 EPS for the current year.

Hedge Funds Weigh In On WeRide

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WRD. Royal Bank of Canada lifted its position in WeRide by 11.4% during the first quarter. Royal Bank of Canada now owns 17,288 shares of the company’s stock worth $140,000 after purchasing an additional 1,768 shares during the period. NewEdge Advisors LLC acquired a new position in shares of WeRide in the 1st quarter valued at approximately $27,000. First Trust Advisors LP raised its position in shares of WeRide by 16.4% in the 4th quarter. First Trust Advisors LP now owns 18,632 shares of the company’s stock valued at $162,000 after buying an additional 2,627 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of WeRide during the 2nd quarter worth approximately $30,000. Finally, Leonteq Securities AG bought a new stake in shares of WeRide during the 4th quarter worth approximately $36,000.

WeRide Company Profile

WeRide Inc (NASDAQ: WRD) is a developer of autonomous driving technology focused on providing Level 4 (L4) self-driving solutions for passenger mobility and logistics. The company’s full-stack platform integrates sensors, computing hardware, software algorithms and vehicle controls to enable driverless taxis, shuttles and goods delivery vehicles. By combining perception, planning and controls in a turnkey system, WeRide aims to accelerate the commercialization of robotaxi services and autonomous fleet operations.

Founded in 2017 and headquartered in Guangzhou, China, WeRide maintains research and development centers in Silicon Valley and China.