WeRide (NASDAQ:WRD) Shares Gap Up – Still a Buy?

Shares of WeRide Inc. (NASDAQ:WRD) gapped up prior to trading on Monday . The stock had previously closed at $6.95, but opened at $7.41. WeRide shares last traded at $7.1350, with a volume of 1,136,127 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on WRD shares. Zacks Research upgraded shares of WeRide from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of WeRide in a research report on Friday. CLSA assumed coverage on WeRide in a research note on Monday, January 5th. They set an “outperform” rating and a $13.00 target price for the company. BNP Paribas Exane started coverage on WeRide in a research note on Thursday. They issued an “outperform” rating and a $11.00 price target on the stock. Finally, Citigroup reaffirmed a “buy” rating on shares of WeRide in a report on Monday, January 19th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $12.70.

WeRide Price Performance

The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of -9.41 and a beta of 4.35. The firm’s 50-day simple moving average is $7.40 and its two-hundred day simple moving average is $8.75.

WeRide (NASDAQ:WRD) last announced its quarterly earnings results on Monday, March 23rd. The company reported ($0.24) EPS for the quarter. WeRide had a negative return on equity of 24.38% and a negative net margin of 240.54%.The firm had revenue of $44.88 million for the quarter. On average, analysts expect that WeRide Inc. will post -0.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WRD. China UAE Investment Cooperation Fund L.P. purchased a new stake in shares of WeRide in the 4th quarter worth about $67,443,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in WeRide by 55.3% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,621,712 shares of the company’s stock valued at $45,770,000 after acquiring an additional 1,645,769 shares in the last quarter. FengHe Fund Management Pte. Ltd. increased its holdings in WeRide by 198.5% during the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 4,175,181 shares of the company’s stock valued at $36,241,000 after acquiring an additional 2,776,381 shares in the last quarter. Temasek Holdings Private Ltd raised its position in WeRide by 119.7% during the fourth quarter. Temasek Holdings Private Ltd now owns 2,978,803 shares of the company’s stock worth $25,856,000 after acquiring an additional 1,623,156 shares during the last quarter. Finally, UBS Group AG lifted its holdings in shares of WeRide by 89.2% in the fourth quarter. UBS Group AG now owns 2,768,106 shares of the company’s stock valued at $24,027,000 after purchasing an additional 1,305,321 shares in the last quarter.

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.