UBS Group AG Purchases 1,305,321 Shares of WeRide Inc. $WRD

UBS Group AG boosted its position in WeRide Inc. (NASDAQ:WRD) by 89.2% during the fourth quarter, Holdings Channel reports. The fund owned 2,768,106 shares of the company’s stock after acquiring an additional 1,305,321 shares during the period. UBS Group AG’s holdings in WeRide were worth $24,027,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in WRD. NewEdge Advisors LLC bought a new position in shares of WeRide during the first quarter valued at about $27,000. JPMorgan Chase & Co. bought a new position in shares of WeRide during the second quarter valued at about $30,000. SBI Securities Co. Ltd. grew its stake in shares of WeRide by 37.6% during the third quarter. SBI Securities Co. Ltd. now owns 4,898 shares of the company’s stock valued at $48,000 after buying an additional 1,339 shares during the last quarter. Profund Advisors LLC bought a new position in shares of WeRide during the third quarter valued at about $102,000. Finally, LMR Partners LLP bought a new position in shares of WeRide during the second quarter valued at about $85,000.

WeRide Stock Performance

WRD stock opened at $7.51 on Monday. The firm has a 50 day moving average price of $7.32 and a 200-day moving average price of $8.19. WeRide Inc. has a 52-week low of $6.01 and a 52-week high of $12.55. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of -10.01 and a beta of 1.88.

WeRide (NASDAQ:WRD) last released its quarterly earnings data on Monday, March 23rd. The company reported ($0.24) earnings per share (EPS) for the quarter. The business had revenue of $44.88 million during the quarter. WeRide had a negative net margin of 240.54% and a negative return on equity of 24.38%. As a group, sell-side analysts forecast that WeRide Inc. will post -1.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wall Street Zen cut WeRide from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. The Goldman Sachs Group started coverage on WeRide in a research note on Thursday, April 16th. They issued a “buy” rating on the stock. BNP Paribas Exane started coverage on WeRide in a research report on Thursday, March 26th. They set an “outperform” rating and a $11.00 price objective on the stock. Citigroup reaffirmed a “buy” rating on shares of WeRide in a research report on Monday, January 19th. Finally, HSBC assumed coverage on shares of WeRide in a report on Tuesday, March 31st. They set a “buy” rating and a $11.40 target price for the company. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.48.

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.