M&G PLC Purchases New Position in WeRide Inc. $WRD

M&G PLC acquired a new stake in shares of WeRide Inc. (NASDAQ:WRD) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 987,021 shares of the company’s stock, valued at approximately $9,870,000. M&G PLC owned approximately 0.34% of WeRide as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Robert Bosch GmbH acquired a new position in shares of WeRide during the 2nd quarter worth $32,424,000. MY.Alpha Management HK Advisors Ltd acquired a new position in WeRide during the second quarter worth $6,374,000. Varma Mutual Pension Insurance Co bought a new position in WeRide during the third quarter valued at about $6,732,000. Bank of America Corp DE acquired a new stake in shares of WeRide in the second quarter worth about $4,687,000. Finally, Brighton Jones LLC acquired a new stake in shares of WeRide in the third quarter worth about $4,404,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WRD. Bank of America began coverage on WeRide in a report on Monday, December 1st. They set a “buy” rating and a $12.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of WeRide in a research report on Monday, December 29th. CLSA initiated coverage on shares of WeRide in a research report on Monday, January 5th. They issued an “outperform” rating and a $13.00 price target on the stock. Citigroup restated a “buy” rating on shares of WeRide in a research note on Monday, January 19th. Finally, Macquarie Capit raised shares of WeRide to a “strong-buy” rating in a report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.13.

WeRide Stock Up 1.5%

Shares of NASDAQ WRD opened at $7.57 on Tuesday. WeRide Inc. has a 12 month low of $6.03 and a 12 month high of $44.00. The company has a market cap of $2.45 billion, a P/E ratio of -9.01 and a beta of 4.33. The business’s 50 day moving average is $8.62 and its two-hundred day moving average is $9.24.

About WeRide

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.