WeRide (NASDAQ:WRD) Stock Rating Cut to Strong Sell at Wall Street Zen

Wall Street Zen lowered shares of WeRide (NASDAQ:WRD) from a sell rating to a strong sell rating in a report released on Saturday,Wall Street Zen reports.

Several other research analysts have also commented on WRD. Barclays initiated coverage on shares of WeRide in a research note on Thursday. They set an “equal weight” rating and a $4.00 price objective for the company. Weiss Ratings downgraded shares of WeRide from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 9th. Bank of America restated a “buy” rating and issued a $10.70 target price on shares of WeRide in a report on Friday, August 14th. Finally, Morgan Stanley restated an “overweight” rating and issued a $12.00 target price on shares of WeRide in a report on Wednesday, August 19th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $10.35.

WeRide Trading Up 1.0%

Shares of WRD stock opened at $4.17 on Friday. WeRide has a 1 year low of $4.03 and a 1 year high of $12.13. 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 stock’s 50 day simple moving average is $5.39 and its two-hundred day simple moving average is $6.24. The company has a market cap of $1.30 billion, a PE ratio of -5.56 and a beta of 1.90.

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

Institutional Trading of WeRide

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. purchased a new stake in shares of WeRide in the 1st quarter worth $34,000. Nykredit A S bought a new stake in shares of WeRide in the second quarter valued at about $57,000. SG Americas Securities LLC purchased a new stake in WeRide in the first quarter worth about $136,000. Royal Bank of Canada lifted its stake in WeRide by 11.4% in the first quarter. Royal Bank of Canada now owns 17,288 shares of the company’s stock worth $140,000 after acquiring an additional 1,768 shares during the period. Finally, Hollencrest Capital Management purchased a new stake in WeRide in the first quarter worth about $152,000.

WeRide Company Profile

WeRide Inc is an autonomous driving technology company that develops and operates self-driving mobility and commercial vehicle solutions. Its technology is designed to support autonomous driving across multiple vehicle types and levels of automation, serving transportation, logistics and municipal applications.

The company’s product portfolio includes robotaxis for passenger transportation, robobuses, autonomous vans and other mobility vehicles, as well as autonomous street-sweeping vehicles and related services.