WeRide Inc. (NASDAQ:WRD) Stock Has Average Price Target of $11.62

WeRide Inc. (NASDAQ:WRD) has been given a consensus rating of “Moderate Buy” by the nine ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $11.62.

A number of equities analysts recently weighed in on WRD shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $12.00 price objective on shares of WeRide in a research report on Wednesday, August 19th. Wall Street Zen lowered WeRide from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings upgraded WeRide from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, September 25th. Finally, Bank of America reaffirmed a “buy” rating and set a $10.70 price target on shares of WeRide in a report on Friday, August 14th.

WeRide Stock Up 6.7%

Shares of WeRide stock opened at $4.81 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.00 and a current ratio of 5.36. The stock has a market capitalization of $1.49 billion, a PE ratio of -6.41 and a beta of 1.90. WeRide has a 52-week low of $4.49 and a 52-week high of $12.18. The company has a 50-day simple moving average of $5.73 and a two-hundred day simple moving average of $6.46.

WeRide (NASDAQ:WRD) last issued its earnings results on Tuesday, June 30th. The company reported ($0.18) earnings per share (EPS) for the quarter. The firm had revenue of $34.11 million during the quarter. WeRide had a negative return on equity of 24.12% and a negative net margin of 199.09%. On average, analysts anticipate that WeRide will post -0.67 EPS for the current fiscal year.

Hedge Funds Weigh In On WeRide

A number of hedge funds have recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in shares of WeRide by 4,926.0% during the first quarter. Bank of America Corp DE now owns 3,595,319 shares of the company’s stock valued at $29,086,000 after purchasing an additional 3,523,785 shares during the last quarter. California Public Employees Retirement System bought a new stake in WeRide in the 1st quarter worth approximately $1,845,000. Sumitomo Mitsui Trust Group Inc. grew its position in WeRide by 229.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,305,997 shares of the company’s stock worth $18,656,000 after purchasing an additional 1,605,657 shares during the period. Empowered Funds LLC bought a new stake in WeRide in the 1st quarter worth approximately $1,461,000. Finally, Amova Asset Management Americas Inc. raised its stake in WeRide by 229.3% during the 1st quarter. Amova Asset Management Americas Inc. now owns 2,305,997 shares of the company’s stock valued at $18,609,000 after buying an additional 1,605,657 shares during the last quarter.

WeRide Company Profile

WeRide Inc is an autonomous-driving technology company founded in 2017 and headquartered in Guangzhou, China. The company develops software, hardware and vehicle systems designed to support autonomous driving across passenger transportation, logistics and urban services.

Its product portfolio includes robotaxis for on-demand passenger transportation, robobuses for scheduled transit, robovans for logistics and delivery applications, and autonomous street-sweeping vehicles. WeRide also develops advanced driver-assistance and autonomous-driving solutions for passenger and commercial vehicles, working with automotive manufacturers, mobility providers and other business partners.

WeRide has conducted commercial and pilot operations in multiple Chinese cities and has expanded its activities internationally, including deployments and testing in markets such as the United Arab Emirates and Singapore.